If the co-operative is successful, ‘the Bevy’ is believed to be the first community-run pub on a housing estate in the UK.
The residents are looking to obtain at least £120,000 through fund-raising events and offering shares in the pub from as little as £10. The co-operative has an overall target of £200,000.
So far, it has almost 400 members and has raised £34,000 in shares, as well as a further £20,000 in donations. The share issue runs until the end of the month.
The group plans to offer real ale and locally-sourced food, as well as a café, meeting room and community kitchen. It aims to eventually produce its own electricity.
Warren Carter, chair of the Bevendean community pub, said that the group has planned many events throughout the month to raise money, such as a mini beer festival.
“We need people to put their hands in their pockets,” he added. “We’ve kept the shares very cheap at £10.
“If I want to get a drink around here, I have to get a bus [into town]. This is a real opportunity for us and we have a great model to help save our local pub.”
The Bevy has been leased to the community group by East Brighton Trust on a 10-year lease, rent-free for the first two years.
For more information, visit www.thebevy.co.uk/