REGULARS who stumped up the cash to buy their own boozer have finally been handed the keys.
The Wivenhoe Pub Company, set up by 40 residents, raised enough money to buy the Black Buoy in Wivenhoe from Punch Taverns.
They have been in negotiations for ten months and completed the purchase yesterday.
John Moores, spokesman, said: “It has been a bit of a slog but we are very happy at the prospect of having a free house in Wivenhoe.
“We can now get on with the real work and make it a really great pub once more.”
Mr Moores said the plan is to undertake a major renovation of the property and open it later this year, offering real ales and homemade food.
He said: “We are ambitious and intend to provide the services people want.
“We are talking to potential local suppliers and will be interviewing for our management team in the coming weeks. “
Mr Moores, of Elmstead Road, Wivenhoe, said the venue would also be providing a private meeting room, bed and breakfast accommodation, an improved beer garden and parking.
He said: “We want to be a part of the community and would love to hear from clubs, teams and other groups who want find out about the new facilities.”
The group stepped in to save the 200-year-old boozer after it closed last October.
They were concerned it was going to be turned into flats.
Punch temporarily reopened the pub under an interim landlord in April.
The consortium has kept tight-lipped on the total amount raised, but it was enough to buy the pub which was on the market for £350,000 and carry out some refurbishments.
About 20 customers raised 80 per cent of the cash needed by Christmas.
An appeal in the Gazette helped gather the rest, mainly from people with connections to the town.
The pub was originally called the Black Boy, after King Charles I’s nickname due to his black hair.
It was changed a century ago to reflect its coastal location.
To get involved with the project visit blackbuoy.co.uk/ or call 07958 471703.
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