The owner of the Vine Tree has notified Stroud District Council of his intention to dispose of the property.
In 2017 the parish council registered the Vine Tree Inn as a community asset so that if it came up for sale there would be sufficient time for community interest groups to prepare and raise money to bid for the property, potentially in competition with other interested parties.
Stroud District Council has received notice from the owner of the Vine Tree that they intend to dispose of the asset. In accordance with the Localism Act 2011, a moratorium has been triggered as follows:·
The interim moratorium period will end on 13th May 2020;·
The full moratorium period will end on 1st October 2020;
and The protected period will end on 1st October 2021.
During the moratorium period, the owner may market and pursue discussions about the sale with whomever they choose, but may not exchange contracts other than with a community interest group. However, it is important to understand that there is no right of first refusal for a community interest group. At the end of the moratorium period the owner will be free to sell to whomever they wish, at the price they wish to accept. If a bid is not made by a community interest group, the owner will not be subject to a further moratorium for a protected period of 18 months.