Fife residents could own part of beautiful 19th century pub for just £25

Residents are being offered the chance to own part of The Inn at Kingsbarns

By Paul Malik

July 30 2024, 5:35pm

Sue Jenkins, Andrew Melville, Inn chef, Mark Lewis, manager, Liam Gualt, waiter, Sam Nisbet, Kathy Mayo, KCT, Shona McIntosh, KCT, Frances Andrews, KCT, Image: Phil Wilkinson Photography

Residents in Kingsbarns are being offered the chance to own part of their local pub as part of a community-investment scheme.

The Inn at Kingsbarns is one of a number of growing community-owned pubs which will be operated by Kingsbarns Community Development Trust.

Kingsbarns’ 19th century inn will evolve into a community hub, providing a “vibrant and environmentally conscious” centre for residents in the East Neuk town.

The community development trust has so-far raised £590,000 through grants and £24,000 via donations, to purchase the inn. It will continue to operate as the landlord.

An additional £60,000 needs to be raised to open and run the new community hub, which the trust hopes to raise in full by selling community shares.

How does the community share fund work?

Community shares are a “social investment” which allow locals to purchase a share in a community-led venture.

Each investor will become a member of Kingsbarns Community Benefit Society (KCBS) and will have a say in how the Inn is run.

The minimum investment for residents is £25 for a single share. The minimum investment for people who do not live in Kingsbarns is £50, for two shares.

Kingsbarns Community Benefit Society aims, but cannot guarantee, 4% interest from 2028.

All going well, investors would be able to withdrawals from their shares from 2029.

In the longer term, surplus profit will be spent on community initiatives, they added.

Inn at Kingsbarns ‘a brilliant opportunity’

Sue Jenkins, co-chair of the community development trust, said: “We are delighted that the Inn at Kingsbarns is now a community owned asset.

“It’s a brilliant opportunity to bring people together and provide much needed facilities for the community.

Andrew Melville, Frances Andrews, Mark Lewis, Sam Nisbet , Sue Jenkins a the Inn at Kingsbarns. Image: Phil Wilkinson Photography

“In time we’ll see the development of a shop, restaurant and café, all under the one roof, whilst retaining a great pub.

“We have been overwhelmed with support from the community and are thankful to Scottish Land Fund and Community Shares Scotland for their generosity and help on our journey.”

Saved from the brink

Kingsbarns Community Development Trust was awarded the six-figure grant by the Scottish Land Fund in June 2023, following a campaign to save the Inn.

The Scottish Land Fund is paid for by the Scottish Government and delivered in partnership with the National Lottery Community Fund and Highlands and Islands Enterprise.

It supports communities to become more resilient and sustainable through the ownership and management of land and assets. It offers grants of up to £1 million.

The Inn has been saved from the brink a number of times. In 2001 residents won a battle to stop the then-Cambo Arms being converted into flats.

Fife Council agreed the listed building, which dates back to the 1800s, should be retained as a pub because of its importance to the community.