Torrington's Globe Hotel saved by community
710 locals raise over £230,000 to kick start the revival of the historic hotel
A much-loved derelict Torrington hotel which has been saved by the community could be open again next year if work to restore the bar is complete.
The Globe Hotel, once the beating heart of the town, has been purchased after 710 people bought shares in it to raise the £230,000 asking price.
Contracts have now been exchanged and this will unlock half a million pounds of government funding to refurbish the Grade II building to its former glory.
Work will start soon on renovating the downstairs bar area at the front of the hotel so it can open up, hopefully by Christmas.
The whole project will take three or four years to complete and will have 11 bedrooms and a restaurant with a heavy focus of training.
Chair of the community group behind the plans Doug Smith, who is also a Torridge District Councillor and former mayor of Torrington, said it was a relief to get the money but “now the real work starts”.
“Now we have signed the contracts we can sleep at night. It’s only taken eight years,” he laughed.
“Each time we have got close before to buying the pub something has happened at the last minute to scupper the plans.”
He said the sooner they could open the doors the better as it would keep people interested in the project.
“We will start with the bar so we can get people in and the venture will start making money too. It’s important people can see what is happening and it will keep the excitement up.”
The team will also produce a “road map” of stages of the project and get as many people as possible who have bought shares, which started at £50, involved with working groups and decision making.
Cllr Smith said there was so much expertise within the community which could be utilised.
The hotel will provide work for local tradespeople during construction, create 20 jobs for local people once opened and only use local producers when sourcing food for the restaurant.
It is expected to complement the Plough Arts Centre next door by offering accommodation and dining to people visiting events.
The Globe Hotel closed in 2018 and had fallen into disrepair since then.