CAMPAIGNERS behind a bid to buy a high street pub to prevent it from being turned into a national convenience chain say they are close to securing a sale.
The Corn Exchange in Crickhowell was set to be sold to the Co-operative group but opponents launched a campaign to encourage people to buy shares so they could purchase the building in order to protect the independent character of the town’s high street.
Property owners Punch Taverns, which is the UK’s second biggest pub chain, withdrew a planning application to modify the building in the face of pressure from campaigners who claimed a supermarket would drive local family-run shops out of business.
The group of 170 mostly local people say they are putting the final touches to an agreement to buy the now closed pub and Punch has confirmed it hopes to complete a sale ’in the near future’.
Once agreement is reached, a new company, Corn Exchange Crickhowell Ltd, will be formed to buy and run the building. Interim chair, Dean Christy, said: "Our negotiations with Punch have been extremely successful so far.
"We have a number of important formalities, including contractual, planning and regulatory matters which need to be dealt with before we can say any more. These are essential to protect the interests of all sides, but we are confident a deal will be done."
For the full story, see this week’s Express