An IPS for Community Benefit
Following the closure in 2008 of Hudswell’s only pub, The George and Dragon, Hudswell Community Pub Ltd was established, in early December 2009, as an Industrial and Provident Society, (an IPS Cooperative)
for the benefit of the community.
The first call for investors and the associated prospectus was launched later that month. By February 2010, 140 people had responded and the initial target of £220,000 of investment was achieved and HCP completed the purchase of the George and Dragon pub.
Additional investors plus grant aid brought the fundraising total to £300,000 which allowed a major refurbishment project and several modifications to the building and bar area to be undertaken. This work was completed by a team of professional builders plus volunteers from the village and beyond.
The pub was finally re-opened by Foreign Secretary and HCP member, William Hague on the 12th June 2010. The opening of Yorkshire’s first community owned pub attracted much publicity from the press, radio and TV at both local and national level.
HCP now has approximately 200 members, governed by the rules of an IPS which are approved and regulated by the Financial Services Authority. Rules and full prospectus can be viewed from our webpage
the pub is the hub
Princes Countryside Fund
The re-opened ‘George and Dragon’ is now restored as a centre of social life for the village and as a thriving business.
Whilst HCP Ltd owns the asset, the day on day pub business is in the hands of a tennant. HCP has appointed Stuart and Melissa Miller to the tenancy. They have an impressive range of cask ales and their food offerings focus on the use of fresh local ingredients served in a welcoming and friendly environment. Now that the ‘George and Dragon’ is re-opened, locals and visitors alike are making use of the fine facilities of this traditional dales pub and enjoying good food and ale.
The phrase "The Pub is the Hub" was coined by HRH The Prince of Wales who, through his Princes Countryside Fund, was looking to raise the awareness of the value of the village pub to it's community. In September 2015 the George and Dragon and HCP was pleased to host a visit from the Prince. To read more about the visit click here. To view pictures from the visit click here. (Photos courtesy of Pub is The Hub)
You too could become a co-owner of a traditional Dales pub
Each investing member has a right to vote at AGM’s and has a say in how the affairs of Hudswell Community Pub Ltd are conducted. Each year members elect a board of directors to manage the society.
Whilst HCP Ltd owns the George and Dragon building and attached land, the day to day operations of the licensed Pub Business is
handed to tenants, Stuart and Melissa Miller, through a fixed term agreement. The tenants lease the property and pay an agreed annual rent to HCP.
The rental income services HCP’s running costs, is used in part to build a reserve fund and the surplus is distributed to investors by way of interest / dividend on their share holding.
The tenancy lease also allows HCP Ltd to operate a small village shop from the premises. This is staffed by volunteers from within the community. HCP has also established 10 community allotments and a community orchard within the land at the rear of the pub.
If you would like to become an investing member of Hudswell Community Pub then you can pick up a share application form from the pup, call 01748 821470 for more information, or visit our website to download a prospectus.
You too could become a co-owner of a traditional Dales pub in a beautiful setting and will always receive a friendly welcome in the pub.