A Community Owned Pub

The Black Horse has been part of Cranham community life for hundreds of years. We believed there was a real risk of closure which would have been a devastating loss for our village. The decline in pub numbers is a long-term trend, with around 20,000 pubs lost over the past 40 years in the UK. While some pubs are still thriving, many are struggling to stay afloat due to the combined pressures of rising costs and changing consumer habits. A total of 412 pubs shut their doors in 2024, marking a 6.7% increase in closures compared to the previous year. This equates to more than 34 pubs closing each month.

This journey began with a chat in The Black Horse in October 2020 and saw a small working group of three people being formed with a novel vision for the future of The Black Horse.

To understand the level of interest villagers had in supporting the community purchase a survey was launched in June 2021. 115 households responded with a huge degree of enthusiasm and in so doing, indicated what they wanted from their pub. The survey was followed up with an open village meeting at a local farm, which served to underline the enthusiasm for the project.

We joined The Plunkett Foundation, a registered charity and leading expert in advising over 100 communities on the purchase of community assets, in particular pubs.

Having researched options and taken advice from Plunkett as to the best ownership structure, our Community Benefit Society ‘Friends Of The Black Horse Cranham Ltd’, was formed in autumn 2021.

Our Community Benefit Society allows people to invest and take ownership as Shareholder Members. Each Member has one vote, unrelated to the level invested in shares; with minimum investment of £50, underlining the inclusivity and community nature of this project.

In February 2022 The Black Horse was registered as an Asset of Community Value, giving the community the time to raise the funding when the previous owners put the pub up for sale.

In late 2022, a comprehensive two-stage application for the government’s Community Ownership Fund was submitted and two months later we were delighted to be one of only a handful of communities across the UK that were successful. The Community Benefit Society was awarded a grant of £250,000 to go towards the purchase cost and refurbishment, and £50,000 to assist with working capital in the first year. We could very well be one of the last pubs to receive this grant as in January 2025, the government discontinued the Community Ownership Fund.

The Spring 2023 saw the launch of our formal share offer, with people coming together to raise an amazing £260,900. The sale was completed on October 25th 2023 and Stroud-based Qubit Construction were appointed on December 4th 2023 to undertake the extensive refurbishment. Alongside them, a generous and enthusiastic team of volunteers worked tirelessly to assist.