THE future of a high street pub in of Nefyn, which has been shut since 2009, has its future ownership secured thanks to a community shares venture.

The venture has raised more than £85,000 to purchase the freehold of The Sportsman, a once thriving pub. With the help of the Community Shares Wales and the Wales Cooperative Centre, a share offer was launched last May to raise the necessary funds. The minimum purchase was for 50 shares, costing £1 each. The offer attracted in excess of 500 investors.

Elin Angharad Davies, newly appointed director and secretary of The Sportsman, said: “This is a significant moment in the history of Nefyn, it is when the town got a local institution back.

“When we first set out on this journey as a small group of volunteers, we never believed in our wildest dreams we would be able to raise more than £80,000. We have been completely overwhelmed by the response by the people of our community to save their local pub, which used to be the central meeting place for sports clubs and visitors to the Llyn Peninsula.

“The training and support we’ve received from the Wales Co-operative Centre through this process has been second-to-none. From establishing us as a Community Benefit Society, so we can include as wide an ownership as possible, to guiding us through the legal aspects of a community share offer, they’ve been a reliable advisor and mentor in times of uncertainty.”

Elin added: “There is still a lot of work for us to make this pub the heart beat of the community once again and we have a bright future.”