INVESTING
Why community ownership?
​
Although there are many hotels and pubs in the UK called the Radnor Arms, The Radnor Arms, New Radnor is the only one that is actually in the village which bears its name.
In 2016 the Radnor Arms closed. Despite being a viable business, and valuable community asset it ceased trading and has fallen into disrepair. Following a forced sale at auction, it has been saved for the Community, and a Community Benefit Society now wish to reopen it as a thriving welcoming public house. Much of the existing building needs repair, including works to the roof, windows, and total interior refit. It is hoped that we can raise the monies for this work from community donations and support from business and local trades people.
​
New Radnor, or Maesyfyd, is the former County Town of Radnorshire, set to the western side of the Radnor Basin, at the foot of the Radnor Forest, it is a medieval town laid out on a grid format. It is a wonderful place to visit, has a well stocked village shop, a picture framer, a community centre hosting many interesting events, a beautiful church, and a community hub.
In the past it had 5 pubs, of which the Radnor Arms was one. We look forward to it opening it’s doors again, and to extending a very warm welcome to all.
​
We have adopted the Plunkett model rules for our Community Benefit Society. A copy of the rules can be downloaded here and a brief video guide to the essentials can be watched here.
THE RADNOR ARMS HOTEL LIMITED COMMUNITY BENEFIT SOCIETY was set up by the local community to secure and safeguard the future of the ‘Radnor Arms’ as a pub and community space in New Radnor, Radnorshire, Powys.
​
THE AIM is for the community to purchase and restore the pub, bringing it back to the heart of New Radnor, where it will once again become a true local that enriches the lives of people within its community, while extending a warm welcome to all visitors.
​
THE SHARE OFFER DOCUMENT supported by the BUSINESS PLAN will tell you all you need to know about buying shares, the phased development of the Radnor Arms and becoming a member of the Society. Giving you the opportunity to own and shape the future of the Radnor Arms.
​
THE COMMUNITY SHARE OFFER OPENS March 2024 and Closes April 2024, unless extended or reduced at the discretion of the Management committee. It is a time limited offer, once the share offer closes, you will not be able to buy shares until a future Share Offer is launched. Being a shareholder, enables you to be a decision maker on the development of the pub. Don’t miss this amazing opportunity to invest.
​
In 2022, the community were invited to show their support for the pub and make pledges. This is now the opportunity, if you are able to, to turn the pledges into Shares, This Share Offer is also open to everyone, whether you have pledged, have recently moved into the local community or did not pledge, but can help now.
​
BUYING A SHARE/S will make you a member of the Society and give you a say in how it is run. Each member has one vote, no matter how many shares they buy. The cost of one share is £25. The minimum shareholding is £25. The maximum amount that can be invested is £20,000 by a single individual, group, or organisation. You must be 16 years old to invest, but shares can be bought on behalf of someone younger.
​
A management committee will be elected at the inaugural members meeting, and the one member one vote is central to this committee, there are no directors, overseers or higher decision makers, this will be a truly local community owned and led project.
WE ARE AIMING TO RAISE a minimum of £130,000 from this Share Offer to purchase and renovate the Radnor Arms. Our optimum target is £180,000 and our maximum target is £220,000.
GRANT AWARDED:
We are delighted that the community has been awarded a grant of £240,000 from the Community Ownership Fund managed by the Government Department of Levelling Up for Housing and Communities. To access the grant, the Society must match fund pound for pound any money that is drawn down to a maximum of £200,000. The additional £40,000 is revenue money that does not have to be match funded.
​
A successful Share Offer will enable the full grant to be to be drawn down, the option to draw down less is available. The Share Offer and grant will go towards the purchase of the pub, renovation and opening of the two bars. The grant money must be allocated by the end of June 2024. If the minimum Share Offer is not met, all is not lost… a shareholders’ meeting will be held to decide the next steps.
​
IF YOU PAY TAX:
The Society has obtained Advance Assurance from HMRC, that all individual investments made through this Share Issue will qualify for Seed Enterprise Investment Scheme (SEIS) tax relief.
This is a UK government initiative that aims to encourage investment in small and early-stage startup businesses by offering tax relief to individual investors who buy initial shares in our Society. If this assurance is received and you pay tax, you are eligible to apply to receive a credit from HMRC of up to 50% of your investment, dependent on the rate at which you pay income tax, through your annual Tax Assessment.
​
HOW DO I FIND OUT MORE INFORMATION:
We encourage you to sign up for updates, through this website and you will be added to our mailing list. The Share Offer will be launched on this website in March. You will then be able to read, download or request a hard copy of the Share Offer Document and the Business Plan. Supporting documentation will be available to read online, download or requested as a hard copy.
​​
WHAT ARE MY RISKS IF THE SHARE OFFER IS SUCCESSFUL:
The Radnor Arms Community Benefit Society wants to be fully open and transparent to its potential investors about the risks as well as the benefits of investment in Community Shares. The following are key points to be aware of:
-
As a member and shareholder of the you will have a stake in the Society. If the Society is unable to meet its debts and other liabilities, you could, in principle, lose some or all your investment held in shares. You will have no other financial liability for the project.
-
The return on your investment will be through a `social not financial dividend` to preserve a local asset for the whole community with potentially a modest interest on your shareholding.
-
Any surplus profits arising from the business would be used for the benefit of the community.
​
NB: As with all investment opportunities, potential investors should be prepared to accept part or total loss of money invested. Our Share Offer Document and Business Plan provides a detailed explanation of the risks involved and how these have been managed. Whilst registered with the Financial Conduct Authority (FCA), a Community Benefit Society is unregulated.
​
