A local group is hoping to make a bid for the Angel during the ACA (Asset of Community Value) moratorium period. They are in the midst of discussions with a few interested parties regarding working with them to realise a shared vision and are happy to talk to other potential major partners. The ‘Save The Angel’ group is open to offers of help and will undertake to explore all possible opportunities that they believe will best serve the village of Spinkhill and the wider community. Contact: savetheangel.spinkhill@gmail.com
The Angel at Spinkhill
The Angel Spinkhill Community Interest Company are concluding feasibility work at The Angel Hotel, Spinkhill, work which has included a trade valuation and surveys of the work required to bring the building up to trading standard. This essential work has been made possible through a grant awarded by the SIB Group ( Social Investment Business Group, the trading name for Adventure Capital Fund). Negotiations to purchase the building from its present owners Punch Taverns, within the 6 month moratorium period presented by its status as an Asset of Community Value (ACV), should soon commence. The Company are talking with a number of private investors but would be happy to talk with any others. For further information please contact the group at; savetheangel.spinkhill@gmail.com
The Angel Spinkhill Community Interest Company (CIC) has been undertaking a detailed feasibility study in order to prepare a bid to present to Punch Taverns. The Angel is listed as an Asset of Community Value (ACV) and during the existing moratorium period, only community interest groups can bid for the asset. The CIC is the only community group that has registered an interest and created a company that is eligible to embark upon the task of retaining this asset.
The Feasibility Study has included:
• Professional Valuation
• Acquisition Survey Report
• Asbestos Survey
• Electrical Survey (including emergency lighting and fire alarm)
• Gas and Heating Survey
• Refurbishment estimates
• Conceptual layouts of each floor of the building
The CIC has been in discussion with a number of professionals to explore potential solutions that would facilitate the re-opening of the Angel as a ‘Destination Eatery’ that serves both the local and wider community.
The Angel is marketed through Punch Taverns’ agents, Fleurets. Detailed negotiations have resulted in a bid from the CIC been accepted by Punch Taverns (subject to contract). The CIC has until 30th June 2014, to conclude the deal.
On Thursday 15 May at 7pm, there will be a presentation by the Community Interest Company. The meeting will take place in the school hall at Immaculate Conception Catholic Primary School and is designed to:
• briefly outline the work undertaken since the last gathering
• present to you an opportunity to invest in the future of the Angel
For further information, and to bring offers of financial support, please contact the group at; savetheangel.spinkhill@gmail.com
It will be good to see this plan come together, we will be checking back for updates!
The current plan is that the ‘Angel Spinkhill Community Interest Company’ (CIC) will purchase of the pub through a commercial loan agreement. There are a number of individuals who have offered this support and discussion is in progress. Once the pub is secured, there is the option to issue shares to the community.
The CIC are considering fresh approaches from potential investors: please contact Chris Emmott (cp_emmott@hotmail.com). The deal with Punch Taverns has to be finalised by the end of June. The group is also negotiating terms with restaurateurs.