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Save The New Clarence
by The Hull Community Pub Society Limited in Hull, Kingston upon Hull, United Kingdom
Total raised £155,350
£160,000 stretch target
45 days left
103%
301 investors
This project will only be funded if at least £150,000 is pledged by 31st October 2024 at 2:00pm
Our aim is to create Hull's first community owned and community run pub by saving The New Clarence pub which closed in June 2023.
by The Hull Community Pub Society Limited in Hull, Kingston upon Hull, United Kingdom
New stretch target
We kept the share offer open after we hit the initial target and got nearly 50 new sign ups and £5,000 extra funding.
Our Vision
We are on a mission to establish Hull's first community-owned and community-run pub! Rather than channeling profits to pub conglomerates, we envision a pub where earnings reinvest into the business, transforming it into a thriving hub for the community.
This is your chance to acquire shares, become a member of the Society, and join hands to rescue The New Clarence.
The New Clarence shut its doors in June 2023, and it's not just any pub—it's Hull's only designated Asset of Community Value (ACV). Nestled in Hull's theatre quarter, its bar and function room served as a vital meeting place for numerous community groups. Last year, the owners failed to secure planning permission for a residential conversion. The ACV designation grants the community the right to bid and purchase the pub during a moratorium period, initiated by the owners in October 2023. We now have until mid-April to raise funds and bid to reclaim our beloved pub.
Our Plan
We've devised a robust business plan to ensure the pub thrives under community ownership. With no rent, potential discounts on business rates, and the freedom to choose sustainable, local suppliers, The New Clarence will be truly liberated.
Drawing inspiration from successful community pubs and with their invaluable guidance, we've meticulously crafted a business plan, analysed, and approved by community pub specialists.
Our aim is to secure the pub's freehold using funds raised through grants and this share sale. Every share purchaser—individuals and businesses—becomes a member of our Society and a part-owner of the pub, gaining a say in its operation.
We commit to renovating the entire building to meet all planning and building regulations, prioritising accessibility to ensure everyone feels welcome.
For details, please refer to the business plan and share offer document at the bottom of this page. Make sure to read both if you're considering investing.
Key Points to Note about the Share Offer
- Estimated total cost: ~£520k
- We aim to raise £150k-£250k through this share offer, supplemented by grant applications and match funding (£375k worth of bids have been submitted).
- Minimum share purchase:
- HU postcode residents: £100
- Non-HU postcode residents: £250 (to incentivise local investment)
- Corporate bodies: £1,000
- Every shareholder becomes a member of Hull Community Pub Society Limited, influencing how the Society and the pub are run.
The attached share offer document provides more project details, introduces the leading team, and outlines the plan to buy, renovate, and reopen The New Clarence.
If you have questions, email us at [email protected].
Visit our website and Facebook page for more information.
Invest Today! Together, let's revive The New Clarence and make history in Hull's community spirit.
Levels of Investment
£1,000 or more
Featured
1,000 shares (or more) for individuals
Buy 1,000 shares for £1,000. Become a member of the Society and have a say in how the pub is run. Each member has one vote, regardless of how many shares they own. You can increase your investment at the checkout.
£100 or more
100 shares (Min for people with a HU postcode)
AVAILABLE EXCLUSIVELY TO PEOPLE WHO LIVE IN HU POSTCODES • Buy 100 shares for £100. Become a member of the Hull Community Pub Society and have a say in how the pub is run. Each member has one vote regardless of how many shares they own. You can increase your investment amount at the checkout.
£100 or more
100 Joint shares
AVAILABLE EXCLUSIVELY TO PEOPLE WHO LIVE IN HU POSTCODES • Get together with a friend and buy 100 shares for £100. This type of share purchase is referred to as being by an 'unincorporated association' in the share offer document. It is an option for people who can't afford £100 on their own. If you want to take up this option, email [email protected].
£250 or more
250 shares (Min for people from non-HU postcodes)
£250 IS THE MINIMUM SHARE BUY IF YOU DO NOT LIVE IN AN HU POSTCODE • Buy 250 shares for £250. Become a member of the Society and have a say in how the pub is run. Each member has one vote regardless of how many shares they own. You can increase your investment at the checkout.
£500 or more
500 shares (or more)
Buy 500 shares for £500. Become a member of the Society and have a say in how the pub is run. Each member has one vote, regardless of how many shares they own. You can increase your investment at the checkout.
£1,000 or more
£1,000 - £100,000 for corporate bodies
THE MINIMUM SHARE BUY FOR CORPORATES IS £1,000, AND THE MAXIMUM IS £100,000 • Your organisation will become a member of the Society and have a say in how the pub is run. Each member has one vote, regardless of how many shares they own. You can increase your investment at the checkout.
£2,000 or more
2,000 shares (or more)
Buy 2,000 shares for £2,000. Become a member of the Society and have a say in how the pub is run. Each member has one vote, regardless of how many shares they own. You can increase your investment at the checkout.
£5,000 or more
5,000 shares (or more)
Buy 5,000 shares for £5,000. Become a member of the Society and have a say in how the pub is run. Each member has one vote, regardless of how many shares they own. You can increase your investment at the checkout.
£10,000 or more
10,000 shares (or more)
Buy 10,000 shares for £10,000. Become a member of the Society and have a say in how the pub is run. Each member has one vote, regardless of how many shares they own. You can increase your investment at the checkout.
£15,000 or more
15,000 shares (maximum for an individual)
Buy 15,000 shares for £15,000. Become a member of the Hull Community Pub Society and have a say in how the pub is run. Each member has one vote, regardless of how many shares they own.