Our Share offer is now live!

Together we can purchase The Globe. You can purchase offline via application form or you can visit the link below 

Be a part of something amazing

Help Save The Globe!

NEWS UPDATE JUNE / JULY  2025:
 
GREAT NEWS!
We are able to extend our share offer deadline to 18th August as we have been able to agree a later date for completion of the purchase.
 
BUT THERE’S MORE GREAT NEWS!
We are now over 65% of our target – what a fantastic community effort! Let’s keep it up!
 
WHY ITS BEEN IMPORTANT TO EXTEND?
BECAUSE WE HAVE MORE OPTIONS WE ARE STILL EXPLORING:
1) TORRIDGE / LEVELLING UP FUNDING
You will know that we already secured £526K of Levelling Up funding, which is only accessible to us after completion of the purchase. We have put in a variation request asking that Torridge speak to the relevant Government Central Office to see if we  draw down up to £100K of this funding early to allow us to complete the purchase. This will obviously reduce the funds we have for immediate repairs, but we know we need to continue developing our funding portfolio to complete all the work needed to refurbish the building to our current drawings. A variation request will take many weeks to progress and process – and may not even be approved by Central Government. 
2) SHARE EQUITY FROM SOCIAL INVESTORS
We are in talks with several social investment bodies, such as Resonance Ltd and Co-operative and Community Finance, and exploring both social investment and share equity. These bodies need time to visit our building and bring our project to their boards and we need time to ensure this option doesn’t negatively impact on financial projections.
3) HMRC
We submitted our paperwork to HMRC and are waiting to hear if we can apply SEIS. If we do then the project can offer tax breaks and we will conduct another campaign – with a focus on angel investors. It also means that our current investors could consider investing in more shares, given the reliefs that would then be available:
Tax Relief: SEIS offers 50% income tax relief
Capital Gains Tax (CGT) Relief: CGT exemption on gains if shares are held for at least three years.
4) CONTINUED COMMUNITY INVESTMENT
You are all amazing! We have over 470 investors, which is fantastic! And support has been on a steady trajectory. When compared to other share issues for community pubs and hotels, then you’ll see that our entry share level of £50 is pretty low. This is because we wanted to encourage as many people as possible to become share holders. But this means we do need more time to reach our target.
 
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NEWS UPDATE JUNE  2025:

COMMUNITY SHARE ISSUE LIVE! 

CROWDFUNDER TOTALISER 13TH JUNE OVER £79K

(AND A FURTHER £25K PLEDGED OFF-LINE TO BE ADDED)

OVER £104,000 RAISED! 

DON’T DELAY, INVEST NOW!

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NEWS UPDATE MAY  2025:

COMMUNITY SHARE ISSUE LAUNCH TO HAPPEN IN NEXT FEW DAYS!

13TH MAY 2025 AT 5PM

We are excited to confirm that we are about to open the Community Share Issue and are just awaiting our Standard Mark accreditation from our COOP Assessor. We can then share with you our business plan and share offer documents and direct you to our Crowdfunder page – or you can buy shares in person. Watch this space for more information.

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NEWS UPDATE MARCH 2025:

THE GLOBE HOTEL, TORRINGTON, MOVES CLOSER TO LAUNCHING COMMUNITY SHARE ISSUE, FOLLOWING PROMISE OF £520K OF LEVELLING UP FUNDING.

We have been allocated a total of £520,000 from the Devon Levelling Up 2025 funding.  This money will be only become available to the project after we have completed a successful Community Share Issue and have raised the funds to purchase the building.

At last we can now schedule the launch of the Community Share issue to raise the funds to purchase the building from local benefactors, Grant and Paula Langer, who stepped in last year to purchase and safeguard the building from the open market. We can now progress in the knowledge that we can unlock this £520K of funding after completion of the purchase, to carry on with the work needed.

Project manager, Rachel Kelly, “We still absolutely need the community to rally around the Community Share Issue – as we need to buy the building before we can access the £520K. The Globe Project now has the potential long-term security to allow it to proceed through the conveyancing process; to exchange and to insure the building. After exchange, we can then launch the Community Share Issue to raise the monies to complete the purchase and then unlock this Levelling Up funding. The funding is earmarked for the immediate works and will stop the building falling into further disrepair. We can then develop our full refurbishment plans to RIBA stage 3 and get planning permission ready. Once planning permission is achieved, we can apply for capital funding; this all takes time, and we imagine we will be opening the doors to the fully refurbished building in 2 years’ time. Depending on levels of monies raised through the share issue we may be able to plan a more staged opening and allow for some of the building to come into use earlier – but this will all be dependent on the level of work required to make the building safe.”

FULL PRESS RELEASE HERE

To everyone who loves Great Torrington, you have the chance to be a part of something special.

We’ve been trying to save the Globe Hotel for years. Now, we finally have an opportunity to put this historic hotel in the hands of the people through community ownership.

By pledging your support or buying a share, you can help transform The Globe for generations to come – saving a heritage building from dereliction, creating jobs for local people, and placing a vibrant hotel in the heart of Great Torrington, not only saving and restoring a beautiful key piece of our local heritage but creating jobs and training for local people and supporting a real catalyst for the entire town.

Our Aim:

  • Buy the building!
  • Save it from dereliction, fully renovate to restore its former glory
  • Create a vibrant hotel with high-quality accommodation and services
  • Open a full new restaurant and bar, in the heart of Great Torrington.
  • Create 20+ new year-round jobs, paying fair wages.
  • Work on a major new training facility for more employment.

How it will happen:

  • Real local ownership through “Community Shares” – private individuals buying shares to become part-owners of the building.
  • Fully developed Business Plan. Specialist advisers and experts.
  • Longer term, use grants to deliver the full vision.

What is a Community
Share Offering?

Our organisation is a Community Benefit Society – a community cooperative – owned and controlled by its members. We’ve used this structure because it gives us the power to offer private individuals the chance to be part-owners of The Globe. Community Shares are a simple way for supporters to buy into community assets, such as local pubs or shops – and in this case, our very own hotel, restaurant and bar!  

The Building’s Potential

The Globe was always a key centre at the heart of Torrington, and it will be again. Our plans are ambitious but completely realistic: we have a really strong Business Plan that clarifies the options and the way forward.

The project will take years, of course, but some parts can be made ready earlier than others. Our intention is to have the Globe humming with life just as soon as we can.

Hotel

Restaurant

Training

Show Your Support Here:

Please sign up to show your support for our plans. We really need your help, because proving community demand is the key to achieving our goals. We’ll keep you in touch and send you the share offer documents when we are live!

The Globe Hotel, Torrington - A New Start for our Town

Our group has been working for years to try and save the Globe Hotel. We are delighted to announce that the project is now live, at last. We have a real chance to take the building into community ownership and refurbish it fully.

Your Support is Absolutely Vital – Please Sign Up

The Globe Torrington Limited is a Community Benefit Society registered with the Financial Conduct Authority under the Co-operative and Community Benefit Societies Act 2014 Registration Number 9288, Castle Hill, Great Torrington, Devon, EX38 8AA

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