Progress report – 4th June 2024
If you would like to be added to the mailing list to receive email updates on progress, please contact Ian Hodge at ian.hodge@castertonvillage.org
On 5th May the original informal group was registered as a Community Benefit Society with the FCA called Casterton Community Hub Limited. A CBS is essentially a formalised community enterprise, which will operate under Financial Conduct Authority (FCA) rules.
The CBS committee are:
- Ian Hodge – chair
- Nick Blake – secretary
- Simon Drakeford – treasurer
- Sally Hodge
- Lois Howard
- Ken Humphris
- Ian Radford
- Andrea Sharp
We have spent most of our time since the last update developing formal documentation for the CBS and writing a business plan to allow us to make a bid to the Community Ownership Fund for money towards a purchase of the The Pheasant. We also commissioned and paid for a RICS valuation. Many thanks to those who donated funds towards this significant expense.
We have also had several meetings with Plunkett experts to help develop our plans.
At the end of May we received the valuation report and are incorporating the numbers into our final business plan.
Unfortunately, the announcement of the general election has meant that the Community Ownership Fund is currently suspended so our plans will go on hold for now.
However, we can report that a potential buyer for The Pheasant has been found and is in discussion with the owners to agree a sale once the Asset of Community Value bid moratorium ends in early August. Casterton Community Hub Limited have met the potential buyer and while we can’t reveal too much we can say that they plan for The Pheasant to continue trading in a similar style but with improved opening hours. This was the preferred outcome of our community survey earlier this year so should be good news if it all works out as promised.