TALKS are ‘definitely on’ between the owners of a Crickhowell town centre pub and campaigners who want to buy it to stop it being turned into a supermarket.

The progress comes with ‘hundreds of thousands of pounds’ of pledges flooding in from townspeople who want to save The Corn Exchange in the High Street.

The new community investment group running the appeal say they have been inundated with offers from accountants, business people, project managers and property experts all offering to work for free to convert the building if the community achieves its ambition of buying the building.

Leaders of the new Corn Exchange Community Investment Group (CECIG) met for the first time this week to plan their strategy for a crucial meeting next week to negotiate a purchase price with the pub’s owners, Punch Taverns.

CECIG now has enough funds to buy The Corn Exchange - but not enough to refurbish it. Members insist that one last push is needed.

Property investor Dean Christy, newly-elected chairman of the investment group, said, “We are going to meet with Punch Taverns and be open with them. We want to offer them a sensible price at which they can sell The Corn Exchange to the people of Crickhowell.”

He explained, “That price needs to leave us enough money to refurbish the building, and rent it out at a sensible level to residential tenants and small businesses which will compliment the character of Crickhowell. We also need to deliver a return to our investors.

“We are short of the money we need to refurbish the building, but the word is getting out and people are contacting us every day wanting to join in this remarkable community effort.”

So far 115 people have pledged money to buy The Corn Exchange – with amounts ranging from £500 to £30,000. In return they will get shares in a new company which will run the building.

They’ll also get one vote for every share – giving the community a say in how the building is run in future.

The fundraising campaign has been led by The Corn Exchange Action Group (CEAG) – but it will now stand back and let the community buying group take the lead.

CEAG’s Emma Bevan said, “CEAG will stand down for the moment, but will remain ready to take up the fight should these talks fail.”

Two members of CEAG will join the new investment group to monitor progress and make sure the views of the wider community are represented to the new company.

The two groups have also placed a Question and Answer document on the CEAG website to inform investors.

The Community Investment Group is drawing up plans to convert the building into three shops and three flats.

Dean Christy said: “There is a real shortage of housing in Crickhowell, and these small retail units will be entirely in keeping with the character of the town. It is a truly remarkable community initiative.”

Anyone who wants any more information can contact [email protected]