We’ve had some excellent news: the Black Lion has successfully been nominated as an Asset of Community Value.
To put this initial success into context, Harrogate Borough Council have received 30 ACV nominations since 2014. Including ours only 5 have been successful. Pubs account for 13 of those 30 nominations, only 2 pubs including ours have been successful.
What does this mean?
If Admiral Taverns want to sell the Black Lion, they must contact the council who will then notify our community steering group.
Our community steering group then has the opportunity to register it’s interest as a potential bidder, this triggers a six month moratorium period during which, subject to certain exceptions, Admiral Taverns can only sell the Black Lion to the community interest group. However, Admiral Taverns can still enter into discussions which other potential buyers during this 6 month period.
Our community steering group would have a six month grace period to write business plans, viability studies, apply for funding, formulate community share offer and decide whether to make a bid.
After the six month moratorium period Admiral Taverns can sell to whomever they choose.
Admiral Taverns have 8 weeks to appeal the successful nomination of the Black Lion as an Asset of Community Value.
