An historic village pub could be bought up by residents in a bid to stop it being sold and redeveloped.
Residents of Hadstock in Essex are concerned that the King’s Head public house, may be bought up by property developers having been placed on the open market.
Now, some of the village’s residents have banded together and, calling themselves the Friends of the King’s Head, have pledged financial contributions to help buy the pub to keep it going as a community asset.
Karen Delamain, a member of Friends of the King’s Head, said: “It’s our intention to raise funds to purchase the pub with donations, investments, grants and a mortgage if necessary.
“It’s been in the village since the 17th century and it’s a listed building. It would be nice to keep it that way because it’s part of our history.”
David Taylor has held the license at the Grade II listed pub for four years .
A Community Benefit Society called the Hadstock Community Pub Limited has been set up and has been approved by the Financial Conduct Authority.
This group will allow the Friends of the King’s Head to apply for grants and to purchase shares in the pub. It’s hoped this will eventually place it in community ownership.
“Having seen the success of another community owned pub, the Green Man at Toppesfield, it is the aim of the friends to follow suit,” said Karen.
“We want to say a huge thank you to those who have already promised to make a financial investment. However, there is a long way to go to cover the purchase price.”
Those interested in pledging money or buying shares in the pub can call the group’s vice chairman, Derek Bushell, on 07971 413355.