Meeting with Horatio Properties
On Friday 24th November 2017, Andy Kippax and Martin Gundry representing Stockland Community Pub Ltd (SCPL) met with Mike Flood and Tony Todd, owner of the King’s Arms, of Horatio Properties (Guernsey) Ltd (HPL).
The meeting was very cordial and took place over lunch in Winchester.
In arranging the meeting SCPL made it clear that we would still like to purchase the entire site and that both parties are prepared to work together to find a solution.
HPL would still sell the site as it stands and do not intend to pursue further planning applications for the time being.
We are very pleased to say that HPL has agreed to allow us to access the property to undertake a full market valuation and to put forward a revised offer.
HPL said they will not take further steps until they have considered our proposal. We intend to instruct a valuer shortly.
At this stage SCPL would stress that there remains a gap of at least £ 100,000 between where each party believes a deal can take place.
In 2013 Sidney Phillips valued the site for SCPL at £375,000 although this was without the benefit of internal access.
We will update the Community when we have a response from HPL to our revised offer, which we anticipate will be early next year.
HPL stated that their current intention is to re-market the pub for sale if we cannot come to an agreement.
We believe that the above represents real progress towards achieving our aim of reopening the Kings Arms as a community-owned pub back at the centre of Stockland.
Contact phone numbers:
Peter Maitland 01404 881237(h)/07767 690890(m)
Andy Kippax 07976 028706 (m)
Damian Clay 01404 881833 (h)