A GROUP of residents trying to take their village pub into community ownership say they are “closing in” after raising £188,000 toward the purchase price.

Residents are trying to raise more than half-a-million pounds to buy The Globe in Milverton, which is the village’s last remaining pub.

The Globe was put on the market for £525,000 by owners Mark and Adele Tarry in 2022, after they spent more than 17 years running the business.

Villagers now believe they are making real progress with the purchase, which would see residents have a stake and a say in the day-to-day running of the rub.

The campaign is being led by the Milverton Community Benefit Society, which this week disclosed it had reached a milestone in securing a government grant worth £300,000.

The grant could be key to reaching the group’s fundraising goal, and their application has now overcome a ‘considerable hurdle’ to be progressed into a new round of scrutiny.

In a recent update the group said “the current signs are pointing towards success.”

Over the past couple of years the Benefit Society has gone from a small resident-led initiative, polling neighbours about their interest in buying shares in The Globe, to a recognised entity by the Financial Conduct Authority, and is now confident it could keep The Globe’s bar open long into the future.

The campaign was inspired by the community takeover of the New Inn, in Halse, where 200 residents chipped in to take over the business as it struggled during the height of the Coronavirus pandemic.

The Halse and District Community Benefit Society was created as the legal route for the New Inn to be bought with a constitution that it should be owned and run by and for the benefit of local residents.

One of the first initiatives carried out at the New Inn was to open a community café, which is now used regularly by 28 groups and clubs for meetings and get togethers.

The Milverton Benefit Society is now hoping to achieve that same success with The Globe.