The Litherland Priory Hotel, in Sefton, Merseyside, was granted a reprieve after a deal was struck between campaigners, property owner Adactus Housing and local councillors.
Adactus is thought to have agreed to sell the property after it was refused planning permission to develop flats on the site.
The Litherland Priory Action Group, which plans to run the pub as a co-operative, now has to raise £400,000 by the November deadline.
With £170,000 already pledged through a share scheme, Action Group campaign’s David Flynn said he was confident that the remainder would be raised in time.
“Our first priority was to prevent the demolition. Now we can concentrate on fundraising.
Grant application
“Meanwhile, we’ve put in a grant application for £250,000 to a social investment bank, so if we get that we’re practically there.”
Flynn said the pub was frequented by the Fab Four before and after the 20-plus occasions they played at Litherland Town Hall, which is just 150 yards away.
“The band’s very first gig after they returned from Hamburg, in 1960, was at the town hall. John Lennon is on record as saying it was the night they really first felt like a proper band.
“We’ve tried to contact Paul McCartney through Twitter, but haven’t received a response. You can imagine how many Tweets he gets every day — he probably gets deluged by them.”
Flynn said the pub was now a “hollow shell” thanks to Adactus stripping the interior after it purchased the site from Orchid Group last November.
Blank canvas
“We will have to raise money to refurbish the site once we have purchased it. But on the plus side, we have a blank canvas and so everything will be brand new when we re-open.
“We are buying the pub for our community, who are in dire need of a community space.
“Unemployment is high in this area too, so we have a number of other ideas to help people, including a food bank, a credit union, a car-wash and a library.
“And pensioners will have a subsidised breakfast club.”
“If we get the funds to buy it, the place will really take off.”