East Budleigh’s Sir Walter Raleigh pub is now officially owned by the community.

On Friday, March 4, it became the Sir Walter Raleigh Community Pub, Ltd, owned by all the residents and visitors who bought shares in the property.

The plan to take it over was drawn up last year when the former owner announced the decision to sell up.

Exmouth Journal: Mark Duffelen, chair of the shareholders' group, outside the Sir Walter RaleighMark Duffelen, chair of the shareholders' group, outside the Sir Walter Raleigh (Image: Judith Venning)

On Friday the chair of the shareholders’ group, Mark Duffelen, announced to them: “You are the proud owners of the Sir Walter Raleigh. Congratulations to everyone that made this possible."

Exmouth Journal: Carol and Darren Yates, the new managers of the Sir Walter Raleigh pubCarol and Darren Yates, the new managers of the Sir Walter Raleigh pub (Image: Judith Venning)

Judith Venning from the group told the Journal the new managers are Carol and Darren Yates.

She said: “Darren is a chef. They have years of experience in managing pubs and are very enthusiastic about working with the community.

“We are now going full steam ahead to get the pub and café open by March 27 - we expect to be very busy for the first few weeks, as everyone in the area pops in for a drink or a meal!”

Exmouth Journal: The sign announcing the community ownership of the Sir Walter Raleigh pubThe sign announcing the community ownership of the Sir Walter Raleigh pub (Image: Judith Venning)