Launch of a community sharing program for Havards hardware stores in Newport

A town in Pembrokeshire is trying to save its 141-year-old hardware store for the community after the business went on the market.

Havards has operated as a traditional hardware store on the same Trefdraeth’s (Newport) East Street site since 1881. Today it offers a wide range of everyday items including hand tools, nails and screws, keys to cut, kitchen utensils and crockery, gardening equipment, clothing, hiking boots and wet suits.

Havards has served the Newport community for the past 141 years

The community hopes to raise sufficient funds to purchase Havards to save this historic institution for the community and also help preserve the character and self-sufficiency of the town and a community sharing offering has been launched.

If the share offer is successful, the store will operate as a cooperative community store, owned by members for the benefit of the community and future generations.

A total of £475,000 is needed to buy the store, with pledges worth £240,000 already received.

All money raised will be used to purchase the store building and stock as well as provide start-up funds and working capital.

Anyone local or further afield can be part of the business by investing and buying shares or donating money to the fund.

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The shares will cost £1 each and the minimum amount that can be invested is £200, or 200 shares. Maximum holding of £33,000, 33,000 shares, or 10% of total share capital raised, whichever is greater. A Share Save option is available allowing anyone to build a shareholding.

National Wales:

Anyone buying a share will become a member of the company, giving them a say in how it operates, with each member having one vote, regardless of how many shares they buy.

Clive Hooper of Siop Havards Gymunedol – HavardsCommunity Shop said: “This is an opportunity for Newport and area residents as well as visitors and friends to be part of the future of the town by helping to preserve an example unique store that can provide almost anything you need right at your doorstep”

Cris Tomos of PLANED added: “It’s fantastic that there has been such a positive response from the questionnaires and meetings that have taken place over the last few months.

“We expect to deliver a good return on investment and are seeking Social Investment Tax Relief, which when achieved will allow eligible taxpayers to recoup 30% of their investment as a tax refund. .

“So if you’ve ever wanted to be part owner of a hardware store like Havards in Tydrath, now is your chance.” All information regarding buying shares in Havards, program history and business plan can be found here.

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