Kings Head Community Benefit Society is the new owner of The King’s Head pub in East Hoathly, West Sussex after hundreds of locals helped to raise the funds needed to buy it. Law firm Thomson Snell & Passmore advised the society on the purchase.
Kings Head Community Benefit Society was formed after a group of local residents had concerns about the pub potentially being sold and redeveloped for residential use.
As the only remaining pub in the village and an Asset of Community Value, they incorporated as a Company Limited by Guarantee (CLG) and officially registered an intent to bid for the pub with Wealden District Council to give them the time to explore how it could be preserved and raise funds to purchase. They then negotiated terms to buy with the seller, who wanted to retire.
An incredible amount of work has gone into the project, including instructing a valuation survey, forming Kings Head Community Benefit Society, registering with the Financial Conduct Authority, negotiating purchase terms and developing a five-year business plan.
In addition, there has been a huge fundraising effort to secure the money needed to purchase the pub, with a total of 343 investors (most of whom are local residents) investing in community shares to raise the £650k needed.
Alisa Sweeney, a local resident and partner in the Real Estate team at Thomson Snell & Passmore, who is also head of the firm’s Food and Drink sector, advised Kings Head Community Benefit Society on the legal aspects of the purchase, with Ben Stepney in the Employment team advising on employment issues.
Allison Walker from the Kings Head Community Benefit Society said: “We are absolutely thrilled that at long last, the purchase of The King’s Head has officially completed – and the pub now belongs to the community!
“It has been a very long road to get here. Back in March 2020, a group of locals who love their pub wanted to protect it for future generations and wondered if it might be possible to bring it under community ownership.
“One year ago, we held the very first public meeting to gauge how much support there was for a community-owned King’s Head, and now, almost siz years after we started, it’s become a reality!
“For generations, The King’s Head pub in East Hoathly has been much more than just somewhere to enjoy a drink. It’s the beating heart of the local community. A social hub that‘s part of the very fabric of the village. A place where stories are shared, friendships are forged, and community spirit thrives. Where people meet, connect and unite.
“We can’t wait to start the next exciting chapter for the pub and are looking forward to reopening soon, after we complete some exciting refurbishments. We’re committed to ensuring it’s a vibrant, successful and sustainable business that benefits local people, local businesses and the wider community.”
Alisa Sweeney added: “This transaction was a real pleasure to advise on. The way the community has come together to make this happen is phenomenal.
“This beautiful Grade II listed building in the heart of East Sussex will now be protected and preserved as a pub for generations to come. I am looking forward to seeing The King’s Head flourish under new ownership and enjoy a glass of wine and a good meal!”
