A small community in the Highlands are nearing their fundraising goal in a bid to buy their local pub - which holds the record for being the most remote in Britain.
Hoping to bring The Old Forge under community ownership, the group based in the Knoydart peninsula are close to raising the £240,000 they need.
The Old Forge Community Benefit Society Ltd has raised just over £233k with the share offer which closes tomorrow (Friday, October 1).
Listed in the Guinness World Records as mainland Britain’s most remote pub, the Old Forge in Knoydart is accessible by ferry from Mallaig or a hike of nearly 30km.
Secretary for the society Stephanie Harris, says “By investing in shares, members will have a direct say in the future success of the society and the pub once under community ownership.”
Community shares are a form of share capital unique to community benefit societies.
As a social investment for the greater good, profits will be reinvested back into the business and other local projects that provide wider community benefit.
Shareholders benefit from interest payments and other members perks, have voting rights at meetings and the opportunity to stand for the management committee.
The investment raised from this share offer will go towards the overall capital required to make an offer on the pub.
The society is hoping to raise the rest of the funds via a grant from the Scottish Land Fund.
Stephanie added: “Under our Society’s rules, 75% of the shareholder members must be residents within our community, and this is to ensure that the pub will always be managed by the community it serves.
However, this means that we have set ourselves an ambitious target to raise over £200,000 from around just 100 people. To maximise our fundraising potential, we have set the minimum investment amount for the 25% of non-resident shareholders at £10,000. Group applications are welcome as well as individual members.”
The society plans to launch a crowdfund campaign upon conclusion of the share offer which will be an opportunity for many more people to get involved in the project and put their own stamp on the future of the Forge.
Speaking about the reasons to take a community ownership bid forward, Stephanie explained: “In such a small community, pubs play a vital role in the social and economic health of the area.
As Knoydart has developed over the last decade, unfortunately, our pub has not and today it does not provide the services that locals and visitors expect. We feel very strongly that under community ownership the pub can be rebuilt in to a thriving business at the heart of the community again."
You can find out more about the share offer before it closes here.
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