Campaign to save the Windmill Hill pub.
Our Vision: More than a pub.
Our vision for The Windmill centres on strengthening its role as a traditional community hub and reaffirming its place as a ‘country pub in the city’. We will create a welcoming, inclusive space for families and people of all generations to meet, eat, drink, work, play and learn. As a Community Pub through and through, the values and aims of The Windmill will reflect those of its community. There will be clear community involvement in the direction that the pub takes, through consultation with community share-holders who will have a say in all major decisions. The Windmill will become a place which adapts to the needs of its community; a user-led space where busy people can find time to relax, connect with each other and those who are isolated or in need can access support, company and good food.
It is essential that our project is financially viable so that the long-term benefits of the pub can be achieved. This will be accomplished through realistic budgeting and careful business planning with a charitable purpose. Community shares will be sold so that anyone and everyone in the community can take ownership of this project and wider philanthropic investment will be encouraged
20th August 2020
We are sad to announce that we have unfortunately not met the target investment required to purchase the Windmill Pub.
We have, however, been amazed by the £170,480 we did raise from 428 investors. This is an incredible amount of money and an incredible number of people. Every one of these investors believed that The Windmill could be saved and was prepared to delve into their own pockets to support the cause.
We are extremely proud of our campaign and the fact that the community rallied behind us in such large numbers. The reality is that the current economic climate is just too uncertain for many people and what might have been possible a year ago is now a victim of the pandemic.
As a campaign group we are not giving up and will now work to try and encourage a brewery to purchase the pub as what we have achieved is a demonstration of the community support for this pub – and shown that it could be a successful business with 428 investors ready to be the first customers through its doors. So you can congratulate yourselves on collectively presenting that potential to potential landlords, you have put the pub in the best position possible to remain a pub.
As a Steering Group we have worked very hard over the last year to lead this campaign and can truly say that we could not have worked any harder. This is a wonderful community and we have been humbled by the support you have shown. Thank you for having faith in the Windmill.
If you are an investor Crowdfunder will return your money within the next 10 days. Please consider a donation to Crowdfunder as they will not now make any fees from our campaign and they have done a great deal of work on our behalf.
We hope that one day we may still see you all in the pub.
Frequently asked questions
You have said you need to raise £300,000 but the asking price is £495,000, how will you make up the difference?
£300,000 is the minimum we need and we will ideally raise the full asking price (but will negotiate the final price we pay with regard to the survey we have had undertaken). We have got a mortgage agreed in principle with Triodos Bank for the shortfall between the minimum target and the price paid. The details are in the Share Offer document and Business Plan that are aviailable to download from this site.
If I invest and you don't reach your target do I get my money back?
Yes you would get your money back if we fail to reach the minimum of £300,000. Crowdfunder will not release the money to us unless the target is reached and they would refund you if we dont. There is one caveat to this that is very unlikely and is outlined in the Terms and Conditions in the Share Offer document. This is: If once we reach the target it takes a very long time to negotiate and agree the purchase price with the owner we may have to draw down the funds in advance of exchange of contracts. If we do this we will have to pay the Crowdfunder fee which is approx 5% of all money raised and if we then do not go ahead for any reason we would be liable for that amount. So the worst case scenario in this situation would be you may lose 5% of your investment. However, the Steering Group are committed to avoiding this and would plan to call off the purchase and return the money before this could happen.
Do you have to be over 18 to have shares? I was thinking of purchasing in my childrens/niece/nephews names but they are under 18.
Yes shareholders do have to be over 18 we're afraid, due to the Financial Conduct Authority Rules, but you can purchase as a gift in the parents name/s. When you go through to purchase the option to 'gift' comes up.
Why does the purchase page ask for a tip?
Crowdfunder have reduced their fees to fund raisers during the pandemic and are therefore trying to recoup some of that income through asking for 'tips' or donations. There is no obligation to do this and you can set the ammount to '0'.
What are the risks in relation to Covid 19?
We are currently unable to fully understand the impact of social distancing on pubs but we will adapt our re-opening plans once we are in a position to secure the purchase. We will aim to operate as safely as possible within the government guidelines at that time. There is a considerable amount of refurbishment work to undertake in the interim and it may be that we get that out of the way before opening and whilst restrictions are in place. Timing and guidelines will determine this.
Will I get a share certificate?
Yes, once we reach our target and the money is drawn down from Crowdfunder you will be issued with a Share Certificate - to proudly display at home :-)
Can I buy shares as a present for someone else?
Yes - when you click through to invest you will be given the option to 'gift' your purchase. Gifted shares will be issued in the name you provide. (they must be over 18).