The Mardale Inn
'The Mardale Inn' - also known in the past as 'St Patrick's Well' or locally, 'The Bampton Jerry' - has served the Valley for over 150 years.
While having evolved under different owners, 'The Mardale' retains the authentic character of an informal Cumbrian pub. It has been a thriving community hub in the past, with a reputation for a friendly welcome, well-priced good food and comfortable accommodation
'The Mardale' was last open in 2018 so some refurbishment work is required for it to welcome locals and visitors again. To set it up for long term success. we are also planning to address some issues that have limited its past potential (as well as good neighbourliness), for example, through the provision of off road parking.
A key target of the long term (Phase 3) refurbishment will be to make the building more environmentally friendly starting with improved insulation to reduce its energy load. This will utilise local products such as sheep's wool insulation and lime render.
The Business Model
BVCP Limited will be the owner of the 'bricks and mortar' of 'The Mardale' but not the day-to-day operator.
We will establish broad operating principles for the pub which represent the expressed interests of the community. We will select a professional tenant who understands these principles and who can demonstrate a good business plan for the supply of food, drink, as well as providing overnight accommodation.
Our rent will be set at a level that gives the tenant the opportunity and incentive to run a profitable pub business, and which will provide the income for us to maintain the building. When cash reserves permit (targeted after a couple of years of operation), we will pay a modest interest to member shareholders and permit the withdrawal of shares from time to time.
The above tenant-based business model is typical of a large number of successful Community Pubs.
Our Community Benefit Society
Bampton Valley Community Pub Limited (BVCP) is a Community Benefit Society (CBS) that has been formed to purchase a pub for the Valley and secure its future for the benefit of the community. It has been successfully registered with the Financial Conduct Authority.
BVCP is run by a Management Committee made up of local people with the expertise and enthusiasm to help bring this dream to reality. Shareholders will become members, with equal voting rights regardless of the size of their shareholding. This means that it is a truly democratic organisation with the protection of limited liability.
Our CBS has adopted Plunkett Foundation's Model Rules Version 5. These Model Rules contain a statutory asset lock. This is a constitutional device that prevents the distribution of residual assets to members. The purpose of the asset lock is to ensure that the community benefit of any retained surplus or residual value cannot be appropriated for the private benefit of members after all members’ share capital has been refunded according to the rules of the Society.
A copy of our adopted Model Rules are available below.