Asset of Community Value

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It’s Official!

The Thorold Arms is now an Asset of Community Value (ACV). The legal department at South Kesteven District Council (SKDC) has approved our nomination and, under the Community Right to Bid, The Thorold Arms was placed on the Community Asset Register at SKDC on Christmas Eve.

If the pub was a going concern or closed and pending a sale, but not in receivership, we would now have a 6 month “breather” in which to prepare a bid to buy it. However, although the ACV registration does not prevent the Receivers from selling the pub to anyone at any time and without notice, it means that the buyer does genuinely need to use the premises for the purposes for which they were designed. This protection lasts for 5 years until 23rd December 2020.

There are rumours flying around that the pub has already been bought by a local successful publican and restaurateur – if only! As far as we are aware this is not the case. The last time we spoke to the selling agents (just before Christmas) there was interest and a potential offer from a developer but this was likely to be dependent on obtaining planning permission. So – do not despair. We just need to get our plans together and make a sensible offer ourselves!

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