AN AUDACIOUS bid by Crickhowell residents to buy a town centre pub in danger of being turned into a national chain convenience store is ‘very close to success,’ campaigners revealed this week.

A clinched deal would see the UK’s second biggest pub chain, Punch Taverns, selling The Corn Exchange in the High Street to 170 mostly local people who fought the supermarket plans when they were unveiled to howls of protest earlier this year.

Punch withdrew their planning application after protestors argued it would drive local family-run shops out of business.

Townspeople, who stepped with an offer, are now ‘putting the final touches’ on an agreement.

And this week Punch confirmed that, subject to the approval of their board, they hope to see a sale quite soon.

Then a new company - Corn Exchange Crickhowell Ltd - will be formed to buy and run the building.

Interim chairman Dean Christy (pictured) announced, “Our negotiations with Punch have been extremely successful so far.

“We have a number of important formalities, including contractual, planning and regulatory matters, which need to be dealt with before we can say any more. These are essential to protect the interests of all sides, but we are confident a deal will be done.”

He added, “Once these matters are concluded, we will be able to assess more accurately the level of funding needed to complete the conversion.

“Further funds will be needed to complete the conversion, but more information will be provided as soon as a full survey and architectural inspection is completed.”

Mr Christy thanked Punch for their contribution in the long, drawn-out saga.

He said, “The fact that we are so close to a deal demonstrates the strength of feeling in Crickhowell and the desire to protect our unique and independent High Street. It also demonstrates Punch’s willingness to work with us – for which they deserve our praise and thanks.”

A Punch Taverns spokesman said, “We are pleased to confirm that negotiations are still progressing well in relation to a freehold sale of the Corn Exchange.

“We fully recognise the strength of feeling around retaining an independent High Street in Crickhowell. Subject to our board approval, we hope that both parties can progress to a sale in the near future.”