About LCBS
Leasingham Community Benefit Society (LCBS)
In November 2017 Enterprise Inns put the Duke of Wellington Freehold on the market and, according to the ACV*, this started the clock ticking for the village to buy the Pub. Volunteers came together to form a committee and the LCBS came about to enable the raising of the necessary funds. A Share Purchase scheme was offered to the wider community and, with the help of the Plunkett Foundation and KeyFund, the necessary funds started to arrive to enable the purchase of the Duke and run it as a Community Pub. After a successful bid the Duke of Wellington is currently owned by 526 shareholders.
*Once listed as an Asset of Community Value (ACV) with the local authority, the local community will be informed if it is listed for sale within the five year listing period. The community can then enact the Community Right to Bid, which gives them a moratorium period of six months to determine if they can raise the finance to purchase the asset.
The Duke of Wellington
The village pub started life as The Wheatsheaf and was one of two pubs in the village. Early in the 19th Century the pub was bought by Captain Richard Wharton-Myddleton who had served as an Ensign during the Battle of Waterloo. To honour his Commander in Chief he renamed the pub the Duke of Wellington. Various structural changes have taken place over the years to improve the available space inside as the village has grown. The Duke was placed on the North Kesteven District Council (NKDC) Asset of Community Value (ACV) List in March 2017.
In November 2017 Enterprise Inns put the Duke of Wellington Freehold on the market and, according to the ACV*, this started the clock ticking for the village to buy the Pub. Volunteers came together to form a committee and the LCBS came about to enable the raising of the necessary funds. A Share Purchase scheme was offered to the wider community and, with the help of the Plunkett Foundation and KeyFund, the necessary funds started to arrive to enable the purchase of the Duke and run it as a Community Pub. After a successful bid the Duke of Wellington is currently owned by 526 shareholders.
*Once listed as an Asset of Community Value (ACV) with the local authority, the local community will be informed if it is listed for sale within the five year listing period. The community can then enact the Community Right to Bid, which gives them a moratorium period of six months to determine if they can raise the finance to purchase the asset.
The Duke of Wellington
The village pub started life as The Wheatsheaf and was one of two pubs in the village. Early in the 19th Century the pub was bought by Captain Richard Wharton-Myddleton who had served as an Ensign during the Battle of Waterloo. To honour his Commander in Chief he renamed the pub the Duke of Wellington. Various structural changes have taken place over the years to improve the available space inside as the village has grown. The Duke was placed on the North Kesteven District Council (NKDC) Asset of Community Value (ACV) List in March 2017.
