Support quality, independent, local journalism…that matters

From just £1 a month you can help fund our work – and use our website without adverts. Become a member today

A few months after residents in Draethen decided they were going to try and save their village pub, a group of 59 investors have raised almost half of the asking price.

The Hollybush had been left to rot since closing in early 2020, before it was eventually put on the market by Star Pubs – an arm of Heineken – towards the end of last year for £295,000.

However, due to an estimated cost of between £1m and £2m to buy and renovate the pub, any would-be buyers fell away.

Determined to stop the pub being sold-off altogether and flattened, Rich Belbin and a group of residents from Draethen came together in hopes of saving it.

Speaking to Caerphilly Observer, Mr Belbin said: “We’ve just ticked over £130,000 worth of investment thanks to those who want to save the pub.

“They’re largely from people within Draethen, but we have investors from as far as Bridgend keen to help us out. Everyone is beginning to get very excited.”

The ‘community-owned pub’ would see each investor get one vote, regardless of how much they contribute, with a minimum investment of £1,000 and a maximum of £50,000 accepted.

Mr Belbin continued: “HMRC has confirmed there will be tax reliefs for those investing – which is a big green light for some would-be investors.

“It’s all a bit complicated, but the overall message is that we’re still looking for people to get involved in the project, which will benefit the whole community.”

As well as running a comprehensive website and Facebook page, the group are set to run a stall at the Machen Show on Saturday July 5 where you can find out more or donate.