The Ivy House

[Sue]

I've just done a search and I can't find the previous threads on The Ivy House, so please forgive me for starting another one.

I've just received this email - fantastic !!!!

Exciting news! We've received an offer of funding from the Architectural Heritage Fund to help us buy the building and run it as London's first co-operative pub and community hub. We will also apply for further funding from Co-operative Finance and capital funding from SIB Group. This is a fantastic opportunity to save the pub and for the community to do something really special. Interested and want to be involved? Keep in touch on Facebook and Twitter (savetheivyhouse, @save_ivy_house) and check out our new website too at www.ivyhousenunhead.com.

[Huggers]

hurrah!

[StraferJack]

great stuff

[StraferJack]

ps searches which involve 3 letter words can be problematic

if you search for

ivy house

you won't get a good result but if you search for

"ivy house"

you will find old threads

[Jeremy]

This sounds great.

How do these things work? Where do running costs and staff wages come from?

[Sue]

Jeremy Wrote:

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> This sounds great.

>

> How do these things work? Where do running costs

> and staff wages come from?

xxxxxx

Don't know, but there's a link to an article about community pubs elsewhere on the new Ivy House website (I notice that if you google Ivy House, you get a website telling you to go to the White Horse !!!!! so you have to remember that the website has the word Nunhead in it ......)

I haven't checked it out, but I THINK that possibly local people may contribute towards running costs etc in return for having some kind of share in the pub? I'd certainly rather some of my savings went to a good cause like this than earning the paltry amount of interest they are doing at the moment - not a good time to retire :))

Great that Pull The Other One is putting on a benefit night - let us know if you'd like the Goose to help in any way.

Strafer Jack, thanks for the search info! DUH (that's duh for me, not you).

[DJKillaQueen]

As a business interest, there would be no sense in requiring people to contribute to running costs. It will have to generate enough income from it's business to cover all the costs, or it will go broke. The capital funding aspect of the deal is the investment arm. So there is equity in investing in set up costs, if the business plan looks like it can provide the required return to satisfy investors.

The Ivy House has struggled for at least the past five years. The reality is that it has lost local trade to the Waverly because it's bar prices were too high for the locals (most of whom are not of the same demographic of East Dulwich) and as it's location is a bit out of the way, that local trade is essential for custom during week days. There are challenges in being an independent pub, but also there are advantages in being free to get the best prices on supplies as well. Whilst the idea of a community pub sounds great, which community is it going to serve? It is going to require some local experienced bar management.

The Ivy House is my local and I think it's great that it looks likely to be saved. I wish it all the luck in getting going again.

[Sue]

The Ivy House was actually doing very well, with an enthusiastic manager, when it was closed by the owners. It was not "struggling" at that point. In fact it was the first time in years that it appeared to be on the up.

If people contribute to the running costs, obviously they do so as a start-up position, and then they take a share of the profits as the pub takes money and is a going concern. We are not talking about people subsidising the pub.

ETA: And the team of people involved in the saving of the Ivy House have taken a lot of time and trouble in putting together a sound business plan - clearly, as otherwise they would not have been granted the funding which they have been.

[DJKillaQueen]

Like I said, I hope it is a success.

[Sue]

Great news about the Ivy House!

I've just had this email:

Our application for grant finance to help us buy the pub has been successful! This is a huge step forward for the Ivy House and brings us closer to securing this landmark building as London's first co-operative pub, hub and performance space. But we still need your help! Thanks for your support to date, we will keep you posted and please come along to Pull The Other One's Ivy House benefit gig on Friday 15th February at the Tenants' Hall, Peckham Rye - further details of which are on the savetheivyhouse group Facebook page and the Ivy House Pub and Hub website (ivyhousenunhead.com)

All best

Team Ivy House

Hooray!!!

[honeybee79]

Hi everyone

I am part of the steering group co-ordinating the Ivy House campaign.

We have secured funding to assist with the purchase and things are progressing. There are no plans for members of the local commmunity to contribute to running costs as the pub must be profitable and self-sufficient to survive. However, we do want to run the building as London's first co-operative pub, so there will be loads of opportunities for people to get involved in the project above and beyond using the pub! We are investigating how to go about a community share issue which would allow people to invest in the project and own a stake in it.

Please continue to support us as we need your help! You can follow us on twitter - @save_ivy_house or join the facebook group (savetheivyhouse). Our website is at www.ivyhousenunhead.com. You can submit ideas, comments and questions directly to us through the website and we would love to hear from you.

Get Friday 15 February pencilled into your diaries for the Pull The Other One benefit gig!

Thank you.

[Sue]

honeybee79 Wrote:

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We

> are investigating how to go about a community

> share issue which would allow people to invest in

> the project and own a stake in it.

>

xxxxxxxx

Sorry for any confusion, that was what I meant :)

[bob]

HB79

Have PMd you

Bob S

[bob]

HB79

OK Just give me a call but a bit of notice please.

Bob S

[Sue]

Cryptic or what? :))

[Sue]

Just received this email - hurrah!

Dear All

Great news! We have agreed the terms on which we will buy the Ivy House. Solicitors have now been instructed and things are progressing well. In the coming weeks we will be launching our community share issue and there will be loads of chances to find out about the project and how to get involved and/or invest in the Ivy House. We're going to need your help to get the doors of the pub open again so please watch this space!

Team Ivy House

[bellenden1]

how do you become part of the ivy house team ?

[Sue]

I guess you contact them!

[h1981]

Yup, ivyhousenunhead.com will be the place to go for details of how to get involved and already is the place to go for making contact and everything else.

[bellenden1]

Sue Wrote:

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> I guess you contact them!

...your helpful ! See you down the Ivyhouse sometime Sue.

.....well done h1981 thats the spirit.

[Sue]

bellenden1 Wrote:

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> Sue Wrote:

> --------------------------------------------------

> -----

> > I guess you contact them!

>

> ...your helpful ! See you down the Ivyhouse

> sometime Sue.

>

xxxxxx

Well, honeybee79 had already posted on this very thread on 31 January - just a few posts before mine - giving all the contact details, so surely I didn't need to repeat them?!

And yes, I will be down there when it opens!

[Renata Hamvas]

News coming soon

[Sue]

Email received tonight :)

Dear All

We're very pleased to announce that we completed our purchase of the Ivy House on Friday. While this has secured the building's immediate future, we now really need your help to get the doors open again and get it up and running as London's first co-operative pub and community hub. Completion is just the start - there is much to be done before we can re-open and we need investment from the community to do it. We have just launched our community share offer to enable you to invest in the building's long term future and own a stake in the Ivy House. To find out more, please go to our website - www.ivyhousenunhead.com - where you can learn about the share offer and how you can get involved in the project.

We're thrilled to have got this far. This is a chance for Nunhead to do something really special and we hope you will join us!

There will be plenty of opportunities to meet us and share ideas and plans for the building over the coming weeks so please keep in touch.

Team Ivy House

[Mark Dodds]

Great NEWS!. Salient part is:

Now YOU can buy a bit of The Ivy House Nunhead and make London pub history.

Go to 'BUY SHARES' here: http://www.ivyhousenunhead.com/

[DJKillaQueen]

On the site it says there is cashflow spreadsheet available but I can't find it. The figures given in the prospectus aren't detailed enough to know if the share option is a viable investment or not. Whilst I think it's great that the Ivy House has a real chance to be trading again, any potential investor needs to see that projected cashflow spreadsheet before committing to investment I think.