Hotel aims for community-led reopening with £520K funding

The Globe Hotel project in Great Torrington has received a significant boost as part of the Government’s Community Regeneration Partnership Scheme, with the announcement of £520,000 in Levelling Up funding. 

This award comes as part of a larger £20.7 million capital investment with £250,000 in revenue funding allocated to various community projects across Torridge District.

The Globe Hotel, which has been closed since 2018, now has the opportunity to be revitalised and reopened, thanks to this funding. 

The money will be unlocked once the Globe Hotel project successfully completes its Community Share Issue and raises the necessary funds to purchase the historic building from local benefactors, Grant and Paula Langer, who stepped in to save the building last year.

Project Manager Rachel Kelly highlighted the importance of community involvement, stressing that the share issue must be successful before the project can access the £520K funding. 

She said: “We still absolutely need the community to rally around the Community Share Issue – as we need to buy the building before we can access the £520K. The Globe Project now has the potential long-term security to allow it to proceed through the conveyancing process; to exchange and to insure the building.”

She continued: “After exchange, we can then launch the Community Share Issue to raise the monies to complete the purchase and then unlock this Levelling Up funding. The funding is earmarked for the immediate works and will stop the building falling into further disrepair. We can then develop our full refurbishment plans to RIBA stage 3 and get planning permission ready. Once planning permission is achieved, we can apply for capital funding; this all takes time, and we imagine we will be opening the doors to the fully refurbished building in two years’ time.”

Doug Smith, Chair of the Globe Hotel project, explained the project’s structure, noting the community's involvement in the hotel’s future. 

“Our organisation is a Community Benefit Society – a community cooperative – owned and controlled by its members. We’ve used this structure because it gives us the power to offer private individuals the chance to be part-owners of The Globe. Community Shares are a simple way for supporters to buy into community assets, such as local pubs or shops – and in this case, our very own hotel, restaurant, and bar!”

The Globe Hotel project aims to revitalise the building in the heart of Torrington, creating high-quality accommodation, a new restaurant, and a bar. 

The renovation will create around 20 new year-round jobs and boost the local economy by attracting longer tourist stays. 

Furthermore, the project plans to establish a training facility and form partnerships with regional and national providers, along with collaborations with local attractions like The Plough, RHS Rosemoor, Dartington, Tarka Valley Railway, and the Town Hall.

The community's response is expected to be strong, given the building's importance to Torrington and the closure of the hotel back in 2018. 

The share offer gives residents a unique opportunity to reclaim ownership of the building and restore pride in the town’s heritage.

Rachel Kelly encourages local residents to get involved, adding: “Please sign up on our website to pledge your support and you will be sent all the paperwork and information once it is accredited and ready. In addition, we are looking for members of the community to be involved in three panels, which will act as sounding boards for the team, centred on Business, Community, and Training. Please email me to find out more at manager@theglobetorrington.co.uk.”

The Community Share Issue is expected to launch in April 2025, offering residents the chance to contribute to the future of The Globe Hotel and its vital role in Torrington's regeneration.