Community bid to buy Leeds pub fails with brewer set to take over

A bid to get Leeds pub The Cardigan Arms into community ownership has failed, despite 200 locals teaming up for the proposal.

Greene King have agreed a sale instead to Kirkstall Brewery owner Steve Holt.

Community Co-op, the group behind the bid, said that although they had received assurances that a decision would be made on the quality of the bid, it understood that Holt’s bid was “significantly higher” than the asking price.

The group needed £300,000 by the end of the month, which would be match funded by Mood Pubs.

Speaking on behalf of the, Jim Brettell said: “The Co-op remains convinced that, having worked closely with the local community and our business partners Mood in developing an exciting and sustainable vision for this well-loved pub, our bid was the best and would have ensured the long-term future of a nationally-important heritage asset.

“Individuals come and go, companies get bought and sold and it’s regrettable that Greene King did not feel able to recognise both the quality of our bid and that it is only through active community involvement and ownership that a greater degree of protection can be provided for a pub like this.”

“The Co-op would like to express warmest thanks to all the many investors and supporters for their enthusiasm, hard work and campaigning effort over the last few months and can safely say that we all did our very best.”

All investor pledges will not be drawn down and cheques will be returned, it said.

Kirkstall Brewery have been contacted for comment.