Learning from the others: Lyvennet CLT

Rural CLT – Lyvennet CLT

Residents of Crosby Ravensworth formed Lyvennet CLT in early 2009 and since then they achieved to develop 20 homes and rescuing the village pub.

All began with the acquisition by the trust of a former industrial site from a national company: they negotiated the purchase and were able to keep the price down “by persuading the owner to retain the two private plots to the market later.”

Their business plan included:

– 10 homes for affordable rent

– 2 homes for shared-equity ownership

– 8 self-built plots (for sale with local connection covenants, restricting residence to people with a long-standing connection to the community.)

The local pub closed in 2010, however the Trust managed to set up Lyvennet Community Pub, an Industrial and Provident Society, through a community share issue. In August 2011 the pub reopened as a community enterprise and the community is looking into an extension of the pub to host a village shop.

Have a look at their experience by watching this video:

(Source: http://www.communitylandtrusts.org.uk/what-is-a-clt/success-stories/rural-clts/lyvennet-clt)

 

 

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