BELTHORN’S only pub could yet be saved after residents entered discussions with its new owner.

The Dog Inn, in Belthorn Road, was bought by Ribble Valley Luxury Homes Ltd before auction in February.

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There were fears that the venue, which dates back to the 1700s, could be converted into housing, but villagers have formed a co-operative, which plans to raise £150,000 in the next two months.

The Dog Inn Belthorn Ltd, which was registered as a mutual society with the Financial Conduct Authority last week, plans to create a share issue once a business plan is finalised.

Stanley Ainsworth, director of Ribble Valley Luxury Homes, confirmed to the Lancashire Telegraph that he had bought the pub – valued at £150,000 – for an undisclosed figure the day before it went to auction on February 26.

Kathryn Sharpe, secretary of The Dog Inn Belthorn Ltd, said: “We have since entered into negotiations with the new owner and are hoping to be able to raise enough funds to be able to purchase The Dog Inn as a community group.

“We are making good progress and have now managed to evolve from an action group and have now registered as a society.

“We are hoping to be able to raise the money to fund the purchase through the sale of shares. Now with a board of directors and the support of Dave Hollings, from Co-operative and Mutual Solutions, we are hoping to launch the share offer in the very near future to give people the opportunity to invest.”

Mr Ainsworth, whose company is based at Eastham House Farm, in Great Mitton, near Clitheroe, would not reveal how much he paid for the pub.

He said: “I am definitely willing to talk to the residents. Over the years, I have bought a few pubs to develop, but if the people in Belthorn want to buy it, I’ll sell it to them.”

A meeting between the two parties is set for April 10.