In our last update we reported that we had submitted our Compulsory Purchase Order (CPO) documentation to Cheshire West and Chester Council (CWaC) for their consideration. In summary this means that CWaC will consider purchasing the Golden Lion from the owner under the CPO Legislation. The Borough Council is continuing to review the application we have submitted. We understand and accept that the process is a complex one and that CWaC will need to give the request due diligence as it assesses our request. We remain positive and hopeful that our request will be approved in due course, possibly being […]
Communications
17 posts
In our last update we informed you that our second offer for the purchase of the Golden Lion was rejected by the vendor, after a number of months working in the background, we can announce that we have submitted our Compulsory Purchase Order (CPO) documentation to Cheshire West and Chester Council (CWaC). In simple terms this means that CWaC will consider purchasing the Golden Lion from the owner under the CPO Legislation. The CPO process can be protracted but as soon as we have any information on progress we will issue a communication. Thank you for your continued support of […]
It is some time since we last updated our prospective shareholders on the progress with the community pub project. As you know our second offer for the purchase of the property was rejected by the vendor. As a result we are currently in ongoing discussions with Cheshire West and Chester Council regarding our next steps which may include options under the Compulsory Purchase legislation. We are aware that cheques currently provided are now expiring. We have not deposited cheques with the bank but we are currently holding them as a record of the village commitment to the project. When we […]
Our second increased offer has regrettably been turned down by the current owner of the Golden Lion. The owner is insisting they will only be considering offers which are some 30% plus over and above any realistic valuation we are in possession of or aware of. In our opinion, and that of our advisors, is that this is neither viable nor realistic. We have a very clear mandate from residents and the wider community that they wish to see the Golden Lion returned to its former glory as a local village pub. This is further supported by the considerable number […]
A huge thank you to all who have returned their share applications so far, as at 17th April 2018 we have received applications for shares from 165 households raising £191,100. Our initial offer to purchase the Golden Lion has been rejected by the vendor so a revised offer, within previous valuations, has been submitted and the business plan has been updated to account for the revised offer. We understand that no other offer has been accepted at this time and we continue to plan for the purchase of The Golden Lion. If our offer should be accepted we need to […]
As you will be aware the formal closing date for our Golden Lion Community Share Offer has now passed as has the moratorium that was invoked due to the Localism Act and the Asset of Community Value that the pub has been listed under. Our funding and share offer has been very successful to date, we are not quite at our full target figure for the share offer but the response to date has been nothing short of tremendous. Due to the long Easter weekend we will still be receiving share applications and expect to do so throughout the coming […]