An audacious bid by townspeople to buy a High Street pub under threat of being turned into a national chain convenience store is “very close to success” – according to the campaigners.
Corn Exchange Action Group and representatives from Punch Taverns L-R. Genet Bevan, Nic Shugar, Kirsty Williams AM, Jesse Stokes (Assured Property), Richard Tole (Punch Taverns), David Thomas, David Prichard (Marrons Planning), Emma Bevan, Graham Crawford, Harriet Murray-Jones
A deal would see the UK’s second biggest pub chain, Punch Taverns Ltd, selling The Corn Exchange in Crickhowell High Street to 170 mostly local people – who fiercely opposed their supermarket plans.
Punch withdrew their planning application after protestors said it would drive local family-run shops out of business. Townspeople then offered to buy the pub. They now say they are “putting the final touches” on an agreement and Punch have confirmed that, subject to the approval of their board, they hope to see a sale “in the near future”.
Once agreement is reached, a new company, Corn Exchange Crickhowell Ltd, will be formed to buy and run the building. Interim Chair, Dean Christy, said: “Our negotiations with Punch have been extremely successful so far.”
“We have a number of important formalities, including contractual, planning and regulatory matters which need to be dealt with before we can say any more. These are essential to protect the interests of all sides, but we are confident a deal will be done.”
“Once these matters are concluded, we will be able to assess more accurately the level of funding needed to complete the conversion. As we have said all along, further funds will be needed to complete the conversion but more information will be provided as soon as a full survey and architectural inspection is completed”.
Mr Christy said: “The fact that we are so close to a deal demonstrates the strength of feeling in Crickhowell and the desire to protect our unique and independent High Street. It also demonstrates Punch’s willingness to work with us – for which they deserve our praise and thanks.”
A spokesperson for Punch Taverns said: “Punch are pleased to confirm that negotiations are still progressing well in relation to a freehold sale of the Corn Exchange. We fully recognise the strength of feeling around retaining an independent high street in Crickhowell. Subject to our board approval, we hope that both parties can progress to a sale in the near future.’
