Charwelton raises £120,000 to save The Fox and Hounds

Fox & Hounds, Charwelton
Image caption The co-operative said the pub would "once again be a thriving community hub"

Residents of a Northamptonshire village have raised almost £120,000 to save a pub from being turned into housing.

The money, raised via a community share issue, will be used to buy The Fox and Hounds in Charwelton, near Daventry.

The Charwelton Community Pub and Shop Co-operative said it would re-open in time for Christmas if a further £30,000 could be raised for refurbishments.

The purchase of the pub, currently owned by developers Family Housing Ltd, is hoped to be completed by December.

Co-operative member Daniel Elkins said the group were "absolutely delighted with the support and enthusiasm that we have seen".

"It has been incredible to see people come together behind a shared dream to save this vital community asset."

He said the pub, which closed in 2012, will "once again be a thriving community hub, providing a centre for social events, celebrations, activities and, above all, a warm welcome to all".

The community shares cost £500, with a limit of £20,000 of investment being allowed per investor.

Residents formed a co-operative and launched a community share on 3 October with support from The Co-operative Enterprise Hub after the pub, which dates from the 1870s, was purchased by property developers.

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