Great News – Over £500,000 Raised!
An update from the Friends of the Elm Tree Inn crowd funder;
Thanks to your incredible support, we’ve raised over £500,000 through both Crowdfunder and offline investments. This means we can now begin negotiations with the owner of the Elm Tree Inn!
In addition, we have access to affordable loans to help bridge the gap towards our £650,000 goal, but our aim is to reduce or even eliminate the need for borrowing.
Your support has been truly global, with contributions coming from Australia, the USA, Ecuador, Serbia, Ukraine, India, Singapore, Switzerland, France, Germany, Slovakia, Corsica, Austria, Mexico, Finland, Belgium, Puerto Rico, Spain, Denmark, Canada, the Netherlands, Ireland, Tasmania, Hawaii, Bulgaria, Sweden, Italy – and likely more!
What Happens Next?
Since we are purchasing the Elm Tree Inn as an ‘Asset of Community Value’ (ACV), we must meet key milestones:
- 3 March 2025 – We need at least £500,000 to submit a credible bid to the owner.
- 23 April 2025 – We need £650,000 to complete the purchase of the pub, cover professional fees and allow us to set up the pub for re-opening, some initial cashflow and any unforeseen costs
- Opening Day – We hope this will be early summer. We will keep you updated with progress and the opening date when we know.
How You Can Help
To strengthen our position, we are extending our Crowdfunder campaign until 1 June 2025. This gives us extra time to raise funds and ideally remove the need for a loan, ensuring a more secure future for the pub.
Our vision is to open the Elm Tree Inn this summer, and we can’t wait to welcome you to this beautiful part of the Jurassic Coast.
Words can’t really express this Boomer’s gratitude.
Nick Carroll
Chairman, Friends of the Elm Tree Inn
