The Bevy sees itself as “more than a pub” re-opening its doors in 2014 to provide a vital range of community services to the people of Moulsecombe and Bevendean.
Set in a low-income, geographically-isolated area of Brighton, a community of 30,000 residents lost it’s only pub in 2010 after it was shut down by the police following years of trouble. There was widespread interest and need to repurpose the existing property to be a positive and relevant focal point to serve the community once again.
The Board became aware of the potential of social investment through trusted local networks – including The Platform, a social enterprise hub and CAF Venturesome’s SE Assist Fund. Grant and loan finance was vital to purchasing of the lease and refitting of the pub, which was in a state of substantial disrepair.
The amount of borrowing in our circumstances would not have been possible from a high street bank and the community could not raise this on their own – although 700 local shareholders were able to participate by purchasing shares from as little as £5. Having been able to demonstrate our ability to secure and repay loans, there were extra grant facilities we were able to qualify for, which helped us to deliver the first steps of our plan.
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