An urgent community push is underway in Torrington to rescue The Globe Hotel.
The iconic Grade II listed building has stood derelict since 2018 but a project team is aiming to buy it and restore it to its former glory as a hotel, bar and restaurant, but with a focus on training and re-investing in the town.
Locals have just a few short weeks – until Tuesday 24 June – to raise £230,000 through a community share offer. If successful, this unlocks a transformational £526,000 government grant.
The community share offer gives people the opportunity to co-own The Globe together, with shares starting at £50.
The project aims to re-open The Globe Hotel as a sustainable business, offering a welcoming venue which can support local tourism as well as providing fair-wage jobs and training and apprenticeships for young people.
We have helped the project team to launch its share offer with a grant of £5,000. This investment is from our Revitalising Devon Towns initiative which aims to support economic recovery in nine Devon towns, including Great Torrington, that were identified as most vulnerable following the Covid pandemic and needed support for economic recovery. Each town has a Regeneration Strategy and projects awarded grant funding are part of the town’s Regeneration Strategy and provide economic benefits such as supporting businesses, providing training or helping people into work.
Councillor Cheryl Cottle-Hunkin, Cabinet Member for Rural Affairs and Local Councillor for Torrington Rural, said:
“This is more than a building—it’s our community’s legacy. A relatively small investment can unlock a huge opportunity. Let’s do this together.”
Project manager Rachel Kelly added: “Let’s not lose this once-in-a-generation opportunity. Together we are stronger. Together we can save The Globe. This is your chance to own a piece of Torrington history. It’s more than just saving a building. It’s about reclaiming Torrington’s future.
“Investments start at just £50, and every pound brings the town one step closer to economic revitalisation. The project needs you to share the vision and buy shares. We are thrilled with the number of investors we have to date, but we need more, and fast!”
If the scheme progresses successfully, any profits made will go back into the community, and investors will get interest from year five if the hotel is a success. If the project fails to go ahead investors will get their money back.
Shares can be bought either online at https://www.crowdfunder.co.uk/p/the-globe-hotel-torrington or off-line, using the form on the project website where the Share Offer Prospectus and the Business Plan can also be found.