Penrith Pub's Potential Listing as Community Asset Receives Last-Minute Backing from Town Council ahead of auction.

A bid to designate a Penrith pub as an asset of community value has gained the support of the town council. 

The Agricultural Hotel, is currently up for auction with a price tag between £250,000 and £350,000, The auction is due to take place Thursday afternoon in Carlisle.

The Solway branch of the Campaign for Real Ale (CAMRA) submitted an application seeking the registration of the Agricultural Hotel as a community asset. The decision to approve or reject the nomination of an asset of community value will be made by Westmorland and Furness Council.

Westmorland and Furness council had requested Penrith Town Council give its views on the nomination as an asset of community vale.

During it’s meeting held last Monday, Penrith Town Council unanimously voted to support CAMRA's bid to have the Agricultural Hotel listed as an asset of communications value.

Penrith Town Councillor Hilary Snell expressed enthusiasm about the potential community involvement, stating, "Having it as an asset of community value will enable local people to actually be involved in the running of it."

Although the auction for the nine-bed hotel is scheduled to take place on Thursday, May 25, in Carlisle, A potential listing as a community asset will not affect the current auction or any plans a new owner may have for the property. However, if the Westmorland and Furness council decides to designate the pub as a community asset, it would grant the local community a six-week grace period to express a feasible interest should any future owner decide to sell.

Should the bid succeed, the community would then have six months to raise the necessary funds for purchasing the property. However, the community asset registration and the 6 month grace period does not mean the seller obligated to sell or accept any bid put forward and can still sell to any third party buyer if they wish.

A number of other assets have been registered as community assets from play parks to Penrith Town Hall as well as pubs.

The auction gets underway at 12noon tomorrow at the Holston hotel in Carlisle with the Agricultural Hotel listed as Lot 46 of the auction.

It’s understood a number of interested parties will be battling it out in the auction room for the Penrith property.

Penrith.Town will bring you news live from the Auction tomorrow afternoon as the hammer falls on the winning bid for Penrith’s Agricultural Hotel.