Current Situation & Options
Dear Shareholder and Fellow Villagers,
As members of the Milverton Community Benefit Society, we’ve always had one aim: to keep The Globe open for Milverton. Sadly, at this moment, that goal hasn’t been met. The Globe is closed. We’ve raised £170,000 from generous villagers so far—but to make a realistic offer to the Tarry’s, we need to reach our target of £580,000.
The Situation with Government Grants
Initially, we were hopeful that we’d receive a £300,000 Levelling Up grant to help us reach our target. However, with the election, government spending has been paused, and it’s increasingly unlikely that Levelling Up funds will be available to us anytime soon.
Our Remaining Options
After exploring every path, we believe we have two clear choices:
1. Wait until early next year to see if any government grant opportunities might still come through. However, the recent budget didn’t mention any additional Levelling Up funds, and we don’t want to rely solely on what may not materialise.
2. Make one final, community-wide fundraising push to raise the remaining amount ourselves. We know this is a big ask, but we believe it’s achievable if we all work together.
How We Can Make This Happen
Here’s what we need: if each of Milverton’s 1500 residents could buy just a few additional shares, we could meet our target. Right now, only 10% of Milverton’s residents have invested. If 700 of us could each purchase five additional shares at £100 per share, we would reach our goal.
To make this possible, we’re asking each of you as shareholders to consider increasing your current investment to at least £500. And please, help us find another 550 individuals willing to invest £500. We’ll also reach out to others in the community via the parish magazine, but your help in spreading the word is crucial.
The Value of The Globe to Our Community
Without The Globe, we lose not just a place to gather and connect, but a core part of our village’s heart. A local pub brings people together, supports a vibrant community, and adds value to our homes—both financially and in quality of life. A pub has stood in Milverton for half a millennium; it would be a great loss if it ended with us.
Our Timeline
We have until 30 November 2024 to raise the remaining funds. If we don’t reach our target, we’ll have to begin the process of refunding shareholders, and our chance to save The Globe will be gone.
How to Invest Further
If you’re able to increase your support, please click here to purchase additional shares in the Milverton Community Benefit Society.
We are deeply grateful for every bit of support so far and are hopeful that, together, we can reopen The Globe. Please act now—let’s make this vision a reality.
Kindest regards,
Chair, Milverton Community Benefit Society
Buy Shares here: Share Purchase
P.S. If a Levelling Up grant does come through, we’ll reach out to you for input on whether those funds should go toward further improvements to The Globe or be returned to shareholders.
