Community pulls together to buy Devon village pub

A significant milestone has been celebrated by the Devon villagers who joined forces to acquire their 'beloved' local pub, which had to close its doors the previous year due to the cost of living crisis. The Drewe Arms in Drewsteignton was listed for sale at £500,000, prompting a determined group of residents to initiate a pledge campaign in July, aiming to purchase it and operate it as a community-owned establishment.

In just one month, they managed to raise £200,000 of their targeted £600,000. They have now proudly announced that their offer to purchase the pub has been accepted by the pub company Stonegate.

Drewsteignton Community Society Limited is set to launch a Crowdfunder share offer at the end of September. The Drewe Arms Community Pub's Facebook page has disclosed that the Crowdfunder launch will coincide with a pop-up party in the village. The post reads: "We are thrilled to announce that our offer to buy The Drewe Arms has been accepted by Stonegate, so it is all systems go! The Crowdfunder share offer will go live on 29th September, 2023.

"Please mark Friday, 29th September, 2023, on your calendar because there will be a grand pop-up party to kick off the Crowdfund on the same evening. This will be our next Pop-Up-Pub, ideally held in the Square, overlooking our cherished pub, before we reopen the doors and welcome all of you back!

"We need to raise sufficient funds to purchase the pub and secure a substantial amount of working capital for essential repairs and equipping the building for reopening. Our overall target is £600,000, and we are hopeful that now that we have an accepted offer, all those who previously pledged will purchase shares equivalent to or greater than their pledges.

"Anyone can invest, so please inform your friends, call your family, spread the word, and let's revive the Drewe! (Note that there may be some age restrictions.)"

Additional details can be found on the Drewe Arms Community Pub website, which expresses gratitude to everyone who pledged. The success of the pledge campaign provided clear confirmation that they could make an offer to Stonegate for the Drewe Arms, an offer that has been accepted.

The 17th-century Grade II listed building, situated at the heart of Drewsteignton village, is believed to have originated as an open-hall house. By 1890, it had transformed into a public house known as the New Inn, later adopting the name the Drewe Arms, thanks to Julius Drewe of the nearby Castle Drogo.

In 2022, the pub closed, leaving Drewsteignton without a local pub, shop, school, or doctors' surgery. The freehold, for the first time ever, was put up for sale by Stonegate.

Recently, the Architectural Heritage Fund declared that it had awarded Drewsteignton Community Society Limited a Project Viability Grant to cover the expenses of essential surveys and architectural work required to plan necessary improvements to the building. This grant is one of the first to be granted through its Historic Assets into Community Ownership program in England, supported by Historic England and the Pilgrim Trust.

The vision of Drewsteignton Community Society Limited extends beyond just creating a thriving pub with delectable food and drinks; they aim to establish a vibrant community hub offering activities ranging from open mic nights to pilates classes.