Our bid was unsuccessful

Dear supporters,

Greene King has finally replied to our ‘best and final bid’ for the Queens Head made back on the 13th December. Unfortunately, at 4:43pm yesterday they notified us that they had just accepted a ‘stronger proposal’ from another party.

On enquiry, Greene King’s agent ‘wholeheartedly believes` that the purchaser will retain it as a Public House. If we do learn more we will let you know. As other groups have found this does not always mean the end, as the purchase may fall through or be sold on.

Meanwhile the group will work with the Parish Council on ensuring that the ‘Asset of Community Value’ (ACV) status is renewed upon expiry as it is an important legal protection for us all. We as a campaign group will continue until the new owner takes over to ensure the best outcome for the village. Beyond this we look forward to welcoming the new owners to Littlebury.

I would like to thank each and every one of you for helping us get this far with your pledges, support, and enthusiasm for our campaign.

Chris, Jonathan, Martyn, Nikhil, Tom & the Committee

An update on our bid to buy the Queen's Head

Dear Supporters,

We wanted to share a quick update on the state of our bid to buy The Queen’s Head.

Our initial offer based on a premium to the formal valuation (dated 15th Nov) to Greene King was rejected (on the 18th Nov), and then confirmed as rejected on further correspondence (dated 25th Nov). Greene King’s agent confirmed verbally to us (on the 28th Nov) that they had received a higher offer, but have not the price offered, nor any information about the other party. They invited a higher bid from our group by email (on Fri 5th December) indicating in writing that they were ‘progressing with another party at a higher level’.

We have now submitted a significantly increased offer, subject to an additional underground drainage/chamber survey to satisfy concerns raised about former caves/fuel tanks. The management committee believes at this level the proposed business remains viable and would allow us to meet the significant costs expected and the challenges facing the hospitality sector.

Our modelling of the pub business is cle ar that at GK’s (still higher) asking price, the pub is unviable and we would likely go bust operating it, after taking on the additional debt to reach their price.

We will continue to update you as and when there is anything concrete to report. In the meantime we hope you understand that we do not want to put information about the amount of our bids in the public domain. Thank you for your continued support!

best wishes,

Chris

PS. If you are a party bidding for the Queen’s Head, please get in touch team@littleburypub.co.uk - the management committee does not wish to engage in bidding against a genuine operator.

PPS. We were invited to, and submitted, one more ‘best and final’ offer on Friday the 13th of December, which was time limited until close of business on Tuesday, 17th December.

Pledges at £350k - We have made an offer

Following campaign pledges reaching our target level of £350,000, we have the confidence to make an offer to Greene King to buy the Queen’s Head. Our Community Benefit Society (CBS) submitted this on Friday 15th November.

Should we secure an agreement of sale, we will issue the bussiness plan to shareholders and formally open the share sale.

As always, if you would like to change your pledge for any reason, please email chris@littleburypub.co.uk

Update on recent developments

Our committee of volunteers has been working hard over recent months to progress this project – here is a selection of what we have been doing:

Fundraising

  • 400+ pledges totalling £280,000+
  • Still £70,000 short of original pledge target of £350,000
  • Neither commercial mortgage nor Public Works Loan via Parish Council will be available in short term (ie. by the time the pub will be sold)
  • No grants available to support purchase price
  • Some grants available to help fund certain administration costs, working capital and/or building/energy efficiency improvements following purchase
  • We are launching a ‘Pub Bond’ offer to bridge gap between pledges and purchase price
  • Pub Christmas cards printed to encourage pledges as Christmas gifts
  • Will continue to seek pledges following acceptance of offer, to support working capital requirements

Profile raising

  • BBC Look East and ITV News features on our YouTube channel
  • Social media presence across Facebook, Instagram and youtube, including ‘vox pop’ videos and LCPL website
  • Monthly pub adverts delivered in the ‘Village Views’ parish newsletter
  • Leafleting of Littlebury, Littlebury Green, Little Chesterford & Strethall completed
  • Roadside banners on village entry signs and on two bends
  • The Railway Arms have held two pub quizzes with our team present, displayed our banners and pushed the campaign on their own supporters email list.
  • Leveraging Cliff Parisi’s support for the campaign
  • Market stall outside Saffron Walden Town Hall on Saturday mornings for the last 6 weeks
  • Village Hall meetings and updates at Littlebury Pop-Up Pub
  • Beautiful drone video footage recorded of the pub.

Administration

  • Littlebury Community Pub Limited incorporated
  • Awaiting final approval of Financial Conduct Authority to convert to Community Benefit Society
  • Detailed operating and capital expenditure financial modelling and business plan prepared
  • Joined the Plunkett Foundation for their advice and support.
  • Using Plunkett Foundation standard rules for company organisation
  • Applying for the Co-op’s Community Shares Standard Mark, a ‘kite mark’ for Community Benefit Societies’ share issues

The Queen’s Head Building

  • Building survey undertaken by Christopher Barker, and report delivered
  • Trade valuation (RICS Red Book valuation) performed by David Broschomb MRICS, result expected shortly
  • Determined and costed in detail what works required for:
    • Essential day 1 works to open for drinks, and for food service
    • Year 1 works to improve efficiency
    • Future capital expenditure to enhance and maintain the building

Investment Terms

We have prepared a separate document outlining the full terms that would apply to your pledged investments. We will only ask supporters to send us their pledged money when the following conditions have been satisfied:

  • Offer accepted in principle by Green King
  • FCA approval of LCP as Community Benefit Society
  • Bank account set up with Co-op
  • HMRC advance approval of (Seed) Enterprise Investment Scheme tax relief

As a result, you can pledge with confidence that you will obtain tax relief (if applicable) as we will not ask for your money unless and until we have that confirmation.

We also have a separate document outlining the ‘Pub Bond’ detailed terms for those willing to lend £10,000 or more.

If you would like to increase your pledge or find out more details out Pub Bonds, email chris@littleburypub.co.uk

We've crossed 200k!

A major milestone this weekend when the Littlebury Community Pub Campaign crossed £200k of pledges. This brings us much closer to purchasing the freehold to the Queen’s Head and getting it into the hands of the community. The Team had our stall at the Saturday market again, and we will be there next week.

We were delighted to have this reported up in the Walden Local - thanks Julie!

Walden Local - Letter to the Editor

Team taps the Saffron Walden Market

The Littlebury Community Pub Team were out today at 08:00 sharp for the start of the Saffron Walden Market. Many people saw our stand, and recognised the pub (or perhaps Cliff!) from the newspaper or TV coverage. We spoke with over a hundred people, and many either shared our belief in community pubs, or couldn’t allow another pub to be lost.

The lovely locals made pledges totalling £3,900, a great boost for the campaign. We will be back!

Saffron Walden Market

As reported last week by The Walden Local, our campaign has now crossed £160k:

Saffron Walden Market

ITV 'Community Pubs' Feature - The Queen's Head

Our Community Pub Campaign featured very briefly on this ITV News feature about community pubs, broadcast Monday night.

BBC News:

BBC News

Villagers have been raising funds to buy their local pub after the owner decided to sell the only drinking spot in the area.

More than one hundred people in the Saffron Walden area of Essex, including Call the Midwife actor and former EastEnders star, Cliff Parisi, have so far pledged their financial support for the Queens Head in Littlebury.

Their investment would amount to £122,000 which is almost a third of the group’s target of over £400,000.

Greene King said it was a “difficult decision” to put the building up for sale, but added they are “no longer best placed” to run the pub.

See BBC News for the full article.

The Mirror

We were also featured on The Mirror’s news site, and on BBC News

The Mirror

Ex-EastEnders star Cliff Parisi has joined a village campaign to buy the local pub - after its owner decided to sell.

More than 100 people in the Saffron Walden area of Essex, including Call the Midwife actor Parisi, have so far pledged their financial support for the Queens Head in Littlebury. Their investment would amount to £122,000 which is almost a third of the group’s target of over £400,000. The star also pointed out the importance of the pub acting as a meeting place. He said it was “crucial to the social life of the village” and urged people to go to their pub because “an email or text is cold, it’s nice to see people face-to-face”. Chris Shucksmith, chair of the Littlebury Community Pub campaign, said the group are confident they can replicate the success of nearby community spaces.

“Fundamentally, there is nothing wrong with the economics of this pub. Professionally run, serving people what they’re looking for, we think it could be successful,” he said. The 400-year-old building was described as a “focal point” for the village.

See The Mirror for the full article.

BBC Look East - The Queen's Head and Community Pubs

Our Community Pub Campaign featured on BBC Look East this Friday, broadcast on BBC1 at 6:30pm to the whole of Essex & Norfolk.

In our feature, Sarah, Chris & Jonathan talked about the campaign and the benefits of community owned pubs. Cliff gave his full support, and appears in Masterchef Regalia. After a look at the number of pubs closing, and the statistics on the success of community pubs, Tim Walker from Save The Railway Arms Pub (STRAP) campaign endorses the community model and gives us his full support.

In the media: Today's interview on BBC Essex

Our heartfelt thanks to Cliff Parisi, who arranged breakfast interviews this morning with BBC Radio Essex, which you can hear below.

 

Sonia: We’re talking about community pubs now on BBC Essex because the village community of Littlebury, which is near Saffron Walden, are coming together to take over their local pub. The Queen’s Head has been closed for about four months, but after being inspired by other local success stories in the area, more than 100 supporters have now pledged to invest into buying that building. It’s 400 years old. Chris Shucksmith is the chair of the Littlebury Community Pub campaign. He’s been telling BBC Essex he believes they can make it work.

Chris: There are definitely many people around the village who we haven’t seen as much since the pub closed. It’s much, much harder to meet people around the village without a pub bringing people together. We’ve got 126 potential shareholders from the village and from the wider area who have pledged their financial support. The total pledge so far is £122,000. So we are almost a third of the way there.

We know that many, many pubs are closing their doors, but yet we also think that fundamentally there’s nothing wrong with the economics of this pub. We think professionally run, serving people what they’re looking for, we think it can be successful.

Sonia: Actor Cliff Parisi played Minty on EastEnders, Fred Buckle in Call the Midwife. and Cliff is on board with the project and joins me now on BBC Essex Morning Cliff.

Sonia: Good morning,

Cliff: good morning. How are you? Thank you for doing this. Oh, you’re very welcome.

Sonia: So tell us what the pub means to you and how important it would be to keep this going.

Cliff: Well, it’s not just our village. It actually serves Saffron Warden as well, because we’re just a mile outside and there’s five villages in the parish, and all the pubs in all of those villages are gone. So this is the last one in the area. It’s really important that we keep this open. because of our mental health alone, there’s lots of people that live on their own in the village, a place to go to meet other people, to talk about local issues, to have a few beers, take the family on a Sunday, have a Sunday roast.

And by the way, I will be cooking in the kitchen and I came forth in Masterchef - so my food is fantastic.

Sonia: Wow. So you’re going to put your money where your mouth is. You’re going to be in the kitchen doing a bit of cooking then as well? That’s awesome.

Cliff: Yeah, yeah, I’m going to be cooking up a storm, probably once a month. But I’ve also got other celebrity chefs that want to come down and cook as well. So that would be a surprise. But I’ve got some really great celebrities that want to come down and cook in the kitchen. So we are desperate to save this pub. We’re so close. We just need the final push. There are no grants available or anything like that. So we need people in the area, to pledge a minimum of 50 quid and we can get it across the line and save it.

Sonia: As we mentioned, it’s an old building. Just give us a sense of what it looks like as well. I bet it’s quite stunning, isn’t it?

Cliff: It’s a lovely building. It’s the 14th century. It’s a lovely building with a great garden, car park. We’re going to have, we’re going to have car charges probably in the car park too. So if you come in your electric car while you’re having your dinner, you can, you can charge up your car. Yeah, it’s a beautiful pub and it’s got rooms upstairs. So, you know, for Airbnb and things like that, we’ve got Duxford Airfield up the road and they have air shows. We have lots of laboratories around here that are always looking for rooms. So, you know, it is a viable pub. It just needs the community behind it.

Sonia: Yeah, because of course, Green King, I’ll read a statement from them in a bit and they say obviously, you know, selling a pub, never an easy one. But we no longer believe we’re best placed to operate these pubs going forward. If they can’t make it work, how confident that you guys, how confident are you that you can make it work?

Cliff: Well, I think the thing is that they take too much fat off the top, you know, and if you’ve got, if you’re making profit, which we will, and the pub has, we’ll just reinvest it in the pub, you know, we’ll have a professional manager running the pub. It’s not for profit. All the money is going to be ploughed back into the community and the pub and the surrounding projects. So we’ll make it work. We’ll definitely make it work. We’re not worried about that or concerned about that. That’s why we’re all putting our own money in. So we’re getting no help at all from any government or any grants or any charities. This is all us. Actually, we’re getting some advice from the Plunket Foundation, but that’s just advice. There’s no money there.

Sonia: Yeah, and as you say, we heard from Chris a minute ago, a bit of money already raised you confident that you can get it over the line?

Cliff: Well, we’ve only got six weeks to raise. Well, we’ve got £122,000, we need £350,000. So we’re just over a third of the way there. Yeah, we are confident. I think even if we all double up what we’re offering, we’ll get there. … Maybe we’ll set a toll to come through the village, vehicles at one end, and charge them 50p for driving through. Maybe we’ll do that. That’ll raise some money. Yes.

Sonia: He’s put his plans down now as we speak, aren’t you? There was a story in the news the other day, just a couple of days ago, talking about the number of pub closures, 50 pubs a month shutting in the first half of the year in England and Wales. It is a grave situation. You pointed out the benefits that pubs can have on people in terms of social and mental health. But that is a worry, isn’t it, that the hospitality industry is really struggling right now? It’s desperate.

Cliff: It’s really desperate at the moment. You know, pubs are worth more as houses. That’s the problem. You know, so they shut these pubs, they turn them into properties, but where does everybody go? Where’s the help of the community? The next time you see everybody is when someone’s died in the village and you all will end up at the church at a funeral. So it’s really important. We’re serving five villages, plus Saffron Walden itself, because we’re only a mile outside. So all of those villages and Saffron Walden itself, we’re really begging on any… put some money in, let’s save this pub, let’s keep this fabulous asset for the community going. And also there’s a 50% pay-back from the government, tax relief on any pledge that you put in. So. Yeah, and we’re quite close to all the end where they have lots of concerts as well. So we’re right next door to that. So it’s an asset for them to people can sleep, stay over. And, you know, it’s just it’s nice to have a pub, isn’t it? You just go, I want to go for a walk, take the dog out, go for a walk, have a beer, sit by the fire and have a chat to some locals and see how they’re getting on. Just check in with people because you don’t like knocking on people’s doors, do you? and an email is cold and the text is cold. Nice to see people face to face and I think it’s good for your mental health.

Sonia: Yeah, what do you think the impact would be if it didn’t reopen?

Cliff: Well, I just think that there’s a lot of people in the village that won’t see anybody, that won’t get out. The post office has gone, the shops gone, the surrounding five villages don’t have any pubs. We’re the only one left. And at the moment we don’t have a pub, it’s closed. So it’s so important to get it back open again. I think it will… We have games, you know, we have village. We’ve got a great community here. We’re always getting together to do stuff. But the village… The pub is the hub. You don’t have to organise to open it up. You know, it’s there. It’s open all the time. The doors are open. If you need to go in there and have a chat with someone, you can go in there and have a chat, you know, play games, darts. You know, we have live music. We’re planning on doing some comedy, storytelling, all kinds of activities we’ve got planned. So it’s vital. It’s really vital for the life of this village.

Sonia: Well, fingers crossed I can come and have a Prosecco with you in a few weeks time then, perhaps or months time, Cliff?

Cliff: You will get a free drink and if I’m behind the bar, you’ll get a free dinner as well because you’ve been brilliant this morning. Thank you for supporting us.

Sonia: Oh, you’re very welcome. Will you keep us posted? Will you keep us posted on how it all goes?

Cliff: Can I just give you the pledge site? It’s littleburypub.co.uk-forward-slash-pledge. Please put some money in, even if it’s just 50 quid, let’s save another great pub, a very, very old pub for the community.

Sonia: Thank you so much for coming on, telling us about it and keep us up to date, won’t you? And I’ll see you there soon. Yeah, okay. We’ll see you there. All right. Thank you, really appreciate your time.

Sonia: Oh, thank you, bless you, Cliff. Thanks for coming on. Thank you. That’s Cliff Parisi, the actor from EastEnders, called The Midwife, and now very much involved in a campaign to get that pub reopened. This is the Queen’s Head in Littlebury near Saffron Walden. Green King says, “making the decision to sell a pub never an easy one and after exploring all options, we no longer believe we’re best placed to operate these pubs going forward. We’ve therefore made the difficult decision to sell the Queen’s Head. for existing use as a pub and are also progressing an offer from a community group for the Ickleton Lion, which is subject to contract and relevance approvals. They say they remain committed to operating great pubs at the heart of their communities in Essex and are proud custodians of more than 100 across the county and have significantly invested in many of these over the last three years.”

Cliff there, talking about the efforts in the community to get that pub back open.

Sonia: How important is it for you to have a local pub to go to in your community? Maybe you’ve suffered by the loss of one. So read those national stats that came out just a few days ago about the continuing decline of the pubs in terms of numbers in England and Wales and the rate of them closing down as well.