'Historic' Ryton pub given new lease of life with £250k funding
A campaign group has been successful in saving Ye Olde Cross, one of the last remaining pubs in Ryton village, by raising £250k to buy the community pub.
Local residents have been working on a strategy to purchase the pub, known as ‘The Cross’, since it last closed its doors in early 2018.
Ryton Cross Community Society (RCCS) Ltd, a Community Benefit Society, was set up in June 2018 to allow local residents and interested supporters to support the campaign and buy into the RCCS by purchasing shares, the proceeds of which would go towards the purchase of The Cross.
More than 300 people have come together to raise the £250k required to purchase their village pub. Fundraising will now continue to raise a further £40k to fund refurbishment works before the pub opens.
David Cox, associate solicitor at Mincoffs, commented: “It’s been an absolute pleasure to advise Ryton Cross Community Society Ltd on the purchase of Ye Olde Cross, particularly as I’m a Ryton resident myself.
“I look forward to seeing refurbishment works take place to enable the pub to reopen as soon as possible for the benefit of the whole local community.”
Ye Olde Cross has been a Ryton community landmark since the 19th century and is entrenched in the village’s history and heritage, having formerly been the go-to venue for functions after weddings, funerals and Christenings at the local Holy Cross Church.
Plans for The Cross include reinstating it as the place to go for personal events, as well as being a hub for community events and programmes, meetings and business gatherings.
Ted Euers, of Ryton Cross Community Society Ltd, added: “It was, and is, a delight working with Mincoffs; and not just because they’ve supported our campaign to save the Cross by keeping their costs to a bare minimum.
“There were a number of challenges, especially the timetable - effectively we had to start the purchase process before we were certain we would meet our fundraising target.
“Throughout, David Cox and the team at Mincoffs were flexible, supportive, acted quickly, offered options and always went the extra mile for us.”
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