Milverton

Milverton Parish Council Outlines Feasibility of saving The Globe 

Milverton Parish Council recently presented a structured proposal aimed at securing the future of The Globe, the village’s last remaining pub, which has served the community for over 300 years. With all other local pubs lost to residential development, the presentation highlighted the urgent need to preserve the venue as a central hub for social activity, local employment, and community cohesion.

The proposal outlines a collaborative ownership model involving three distinct roles:

• Milverton Parish Council (MPC): Would acquire the property by securing an approximate £500,000 fixed-rate loan through the Public Works Loan Board (PWLB) over a 25- or 50-year term.

• A New Community Benefit Society (CBS): Formed as a non-profit, volunteer-run entity regulated by the FCA, the new CBS would lease the pub from the Council under a repairing and maintenance agreement, oversee fundraising, and manage tenant selection.

• Commercial Tenant: A professional operator responsible for the day-to-day running of the pub, operating a daytime café, evening food and drinks service, and supporting local suppliers.

To fund the acquisition, the Council presented the financial impact on a Band D property. A 25-year loan would require an extra £70.18 annually (£1.35/week), representing a 70.7% increase to the parish precept and a 2.8% increase to the total Council Tax bill. A 50-year loan would cost an extra £59.91 annually (£1.15/week), representing a 60.3% precept increase and a 2.4% total Council Tax increase. Successful precedents nationwide support the plan, showing over 200 community pubs operating with a 92% survival rate. Contingency plans are also in place if the venue fails, including tenant replacement or property resale as a last resort.

Feedback from attendees was generally positive, reflecting strong enthusiasm for saving the village landmark. Addressing recent WhatsApp discussions regarding missed meetings, the Council confirmed that all presentation details will be uploaded to the Parish Council website so residents who could not attend remain fully informed.

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