Please help buy our beautiful historic village pub in order that we can re-open it as a community-owned venue.
This is your opportunity to become a shareholder in Pack Horse South Stoke Ltd.
Minimum investment of £500.
Step 1 – Download the literature!
(Please take a minute to read the updates to the prospectus, which are outlined at the bottom of this page)
Step 2 – Pledge your support!
If you are considering a large investment (£10k plus, with EIS tax relief), please email Trevor John on trevor.ttjohn@gmail for the appropriate paperwork.
Step 3 – Take supportive action!
Please return your completed application form (and cheque if you did not want to make an online investment) by post to:
Mr Trevor John
Pack Horse South Stoke Ltd
If you want to use email, please send the form to: email@example.com
Quite a lot of changes have happened since the prospectus was originally issued in June last year. The material ones that we are aware of are:
- Conservation officers at the local Council have stipulated that all renovation work is carried out to a very high standard;
- The planners insisted we move the kitchen from the first floor to the basement. Making the basement habitable is a major expense;
- To accommodate the move, an extension is being built which incorporates expensive ventilation and kitchen equipment etc;
- The result of these changes is to put the renovation costs up by at least £150k, so we are now seeking to raise share capital of £1,025,000, instead of £875,000. So far, we have raised £829,000.
- The additional expense means that we are going to have to phase the development of the pub over a number of years but the new car park is now finished and the main building contract has started. This had been held up by negotiations over the terms of the contract and the pub will now not open until Spring 2018, and the top floor will be unavailable for a while.
- However, the relocation of the kitchen means that all of the first floor will now be available for public use, effectively increasing the “selling space” in the pub by about 40%. Also, we have now signed up a well-known local chef, Rob Clayton, as out Operations Director. As a result, we still believe that the income forecasts included in the prospectus are achievable, although somewhat deferred.”