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Fresh share offer in race to raise money to save landmark Somerset pub

A COMMUNITY group campaigning to re-open a landmark Wells pub has launched a second share offer to help get residents involved.

In April, the East Wells Community Benefit Society (EWCBS) launched a share offer allowing people to invest in the future of The Britannia Inn, in Bath Road.

The pub, known locally as The Brit, closed in June 2021 after the retirement of long-serving landlords Rob and Karen Rouse.

Since, the community has been looking to renovate and re-open the venue and secure its long-term future.

In February last year, the pub was designated an Asset of Community Value, meaning residents must be offered the chance to buy it, should the owners sell.

However, the group needs to raise around £353,000 for the project.

READ MORE: Your chance to buy shares to re-open landmark Wells pub

The initial share issue earlier this year, secured around 25% of the required funds, and now people are being given a second chance to invest.

The EWCBS recently triggered a six-month moratorium on the sale of the pub to a developer, and is now racing to secure the funds needed to secure The Brit.

Community shares are available to anyone over 18, with a minimum investment of £50.

Shareholder funds will be ringfenced and, should the purchase of The Britannia not go ahead, will be refunded in full.

For more information, including the EWCBS business plan for The Brit, share offer prospectus and online application form, visit savethebritanniainnwells.org.

The Britannia Inn, in Bath Road, Wells

The Britannia Inn, in Bath Road, Wells, which closed in June 2021

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