Avon Dassett Community Benefit Society Limited
Avon Dassett Community Benefit Society Limited

About Avon Dassett Community Benefit Society Limited

Our History

Avon Dassett Community Benefit Society Limited was formed late in 2016 to secure the freehold of The Avon public house in Avon Dassett.

 

The Society proposes to raise funds in order to purchase, re-furbish and maintain The Avon, for the benefit of the community. It will lease the pub to a professional and experienced tenant who will be responsible for the operation of the public house and who will work with the Society in the implementation of the Business Plan to include other community activities. These “other activities” will be undertaken at the discretion of The Management Committee and for the benefit of the community.

Community Consultation

In 2014 The Save The Avon Group undertook a survey of residents of Avon Dassett to find out the level of support within the village and the sorts of facilities etc that residents felt were appropriate. In addition, residents were asked if they would support the purchase of The Avon as a community asset either by offering their assistance of by supporting the project financially.

 

The results of this survey were presented to the community on January 2015. At this presentation is was agreed that if a suitable purchaser had an offer accepted by Enterprise Inns then the Save The Avon Group would not proceed with the purchase.

 

When the current owners purchased The Avon, the Save the Avon Group suspended its activities. However, when the business was closed and a Change of Use Planning Application submitted, the Save the Avon Group re-formed. In August 2016 a questionnaire was issued to enable us to ascertain interest within the community in respect of funding and other support to secure The Avon for the community.

The Village Questionnaire and Presentation January 2014
This is the questionnaire undertaken in December 2014 and a subsequent presentation to residents in January 2015. We believe that it still represents what is required from our local pub but we are constantly keeping it's validity under review.
20150124 ADCBS Village Questionnaire Pr[...]
Adobe Acrobat document [1.2 MB]

Community Benefits

Our belief is that the Pub and the site it occupies are vital amenities for Avon Dassett and nearby villages and that the best interest of the community will be served by acquiring the pub through a limited liability Community Benefit Society. 

 

Our intention is to finance the acquisition and subsequent improvement projects, initially, through a community share offer and commercial and private loans. The intention is to maximise the capital raised through the community share offer. We have set a minimum target of £250,000. Importantly any funds we raise over and above this will reduce our dependence on commercial or private funding and the associated interest costs. If we only achieve the minimum amount of share capital through the initial offer the share offer will be extended. Other sources of funding will be also be pursued. Any grants awarded would be used to reduce the loan capital required or enhance the facilities of the premises.

 

This represents a fantastic opportunity for Avon Dassett and nearby villages to strengthen the vibrancy and sustainability of our community. This purchase would have many benefits, including:

 

  • maintaining a place to meet friends and neighbours and improving the sense of community;
  • providing a central point for information on community events and local issues;
  • securing the heart of the village for the community;
  • improvements to the fabric of the building to improve accessibility and use;
  • working with local businesses to attract more business into the community;
  • creating opportunities for employment;
  • injecting money into the local economy;
  • providing a hospitality venue for local groups, tourists, weddings and funerals;
  • helping to sustain local property prices

Member Benefits

It is proposed that the Society will pay interest to shareholders on an annual basis. However, no interest will be paid in the first 12 months. The interest will be calculated on a daily basis based upon number of £50 shares held by members.

 

  • interest will be paid at a rate of 2% over Base Rate as set by The Bank Of England’s Monetary Policy Committee with a minimum rate of 3% and a maximum of 5%. These rates will be reviewed at the Annual Members Meeting of Avon Dassett Community Benefit Society Limited
  • members will have the option of receiving interest payments by cheque or by direct payment into their bank account.
  • in addition members can opt to leave the interest in the Society and in this event it will be retained as a shareholders loan
  • any shareholders loan accounts will be repaid on request by the  Society at Management Committee discretion but a reserve will be created sufficient to meet anticipated loan repayments

Support Us

We are a small group of local residents dedicated to deliver our aim and to ensure that in doing so we make our village and other local communities a better place to live, visit and to undertake business activities.

Our Registered Address Is:

Avon Dassett Community Benefit Society Limited

The Reading Room
Avon Dassett
Southam

Warwickshire
CV47 2AL

Tel: 07775 762927

 

E-mail: adcbs2017@gmail.com

 

Facebook page:

 

https://www.facebook.com/avondassettcbs/

 

Or please use the link below to access our contact form.

Print Print | Sitemap Recommend this page Recommend this page
© Avon Dassett Community Benefit Society Limited