RESIDENTS in Limpley Stoke and neighbouring communities are racing against time to raise the £500,000 they need to save the Hop Pole village inn in Limpley Stoke.

The 16th century inn is the last pub left in the village and finally closed its doors in 2018. If the campaign to save it cannot raise the money needed, it is likely to be sold to a housing developer.

A not-for-profit community charity have launched a share issue and say they need to raise £360,000 by February 15 to proceed with a potential purchase on behalf of the local community.

Simon Coombe, of the Limpley Stoke Community Benefit Society, said: “If we fail to receive enough funds by this date we will lose our historic 16th century coaching inn to a developer who will convert it into housing.

“If this happens, the share issue will be cancelled and all funds returned. However we are confident that, with your support, we will succeed in buying the Hop Pole and converting it back into a vibrant community-owned pub at the heart of this community.

“Already, more than 100 people have applied to buy shares and we have raised just over half the amount needed but we still have a long way to go.”

Mr Coombe says the society’s campaign has had support from around the globe, including Australia, Canada, the USA and Vietnam.

“It has been incredibly heart-warming. We’ve had support from all over the country, as well as all over the world.”

The Grade 2 listed pub was once used in the 1993 drama film Remains of the Day, starring Sir Anthony Hopkins and Emma Thompson.

It is now being offered for sale on the open market with a price tag of £325,000 plus VAT but the LSCBS stepped in to register it as an asset of community value.

This will protect the pub from being sold on the open market until the society can make good its offer to the vendors to purchase the inn for £285,000 plus VAT.

The society is now trying to raise the money from the local community by launching a £1 a share scheme to raise the £500,000 needed to acquire the pub, renovate it and then reopen it.

Applicants are being asked to pledge to purchase a minimum of 200 £1 shares and a maximum of 25,000.

The society hopes to manage the Hop Pole as a successful business and reinvest surplus profits back into the community.

Its campaign has been receiving advice and encouragement from The Packhorse, a community-owned pub in the nearby village of South Stoke which was saved from developers four years ago and is now thriving.

Already, more than 150 pubs across the country are being run by their local communities and Mr Coombe believes they can do the same in Limpley Stoke. He added: “We want to see the Hop Pole reopen its doors to neighbours wanting to pop in for a pint.

“And by developing its broader appeal, it can work for the wider community – families with children, walkers, shoppers visiting nearby Bath, becoming somewhere for everyone.

“We don’t want to preserve the Hop Pole as a relic of a bygone era, but to transform it into a thriving hub that’s fit for 21st century village life.

“As a successful business and employer, as a unique venue for group events and activities, and as a place that can deliver local services – a place that’s open to new ideas.

“We believe that the Hop Pole’s setting is special. It’s a world away from the out-of-town housing developments or city centre drinking establishments in the portfolios of financial conglomerates.

“It’s a unique building in the heart of our village – one that deserves to be treated – and developed – differently to a real estate opportunity.

“Rather than developing a building that lines the pockets of the few, we believe that community ownership will allow the Hop Pole to fulfil its true potential to serve the many.”

“Recent events have shown us the importance of community and its power to get things done – people from all walks of life, united by a common cause, coming together to achieve great things.”

The Limpley Stoke Community Benefit Society is a not-for-profit organisation owned and run by the local community. It already operates the highly successful Galleries shop and café in the neighbouring village of Freshford.

To apply for shares, click here.