Greetings!
With the recent arrival of a prominent new For-Sale sign outside the King William IV, it has clearly prompted a lot of discussion around the village.
As reports are suggesting that David and Tracey are moving away, the prevailing members of the Save the KW4 group thought it timely to provide some more of the history and activities of the last ten years or so since the pub was shut in 2015.
History:
Starting in a relatively recent 2008, The KW4 was bought and resumed trading as a pub and restaurant. About a year later in September the operation was supplemented with some external decking and the creation of an ice cream parlour. These features were added while the pub began to thrive and actively feature and support village events and to introduce new ones, all the while providing a lively bar and a creative and evolving restaurant offering.
Without doubt, for quite some time from 2008 the King William with David (Dilly) and Tracey at the helm was quite the thriving enterprise and a key hub of the community. Unfortunately though, factors combined, most notably economic downturn, which led to a reduction in business, the service offering from the pub diminishing and its eventual closure at Christmas 2015. For more than six months prior to closure, it had been listed for sale as a pub via local agent Duncan Bailey Kennedy at a price of £900k.
After the closure, the Save The King William IV Group was formed (March 2016). The ten plus years since closure essentially breaks down into two halves:
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Attempts to buy or to facilitate a pub operator to purchase
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Preservation efforts
Throughout the attempt-to-buy phase, many, many direct and indirect meetings and discussions were held and third parties consulted (Charities, foundations, local and national governments, planning experts, architects) in efforts to reach a generally satisfactory arrangement.
The Save the KW4 group’s primary aim was and always has been to save the pub, as a pub for this and future generations. This being both in respect of the building itself but moreover because of the enormous value it provides as a medium for social and community activity and cohesion.
A variety of creative approaches and ideas were explored and considered by all parties (such as enabling pub operators or local experienced publicans, enabling partial development, community purchase, village hall & playing field pavilion collaborations or mergers). Obviously none have proved fruitful (at least, none yet!).
Periodically through this phase, offers were made by the group to buy it. Several unfunded offers were made (we backed the community’s appetite to fund-raise if a figure could be agreed upon), spanning the £600-725k range. These offers were under asking prices and were attempted while aiming to navigate a tricky path between more palatable, observed and comparable market values, yet to include what was an apparently unavoidable premium having to be paid to secure a deal.
Some while later, after further evident deterioration of the building and following the removal of equipment from the catering kitchen, we engaged Christie's, a specialist in pub sales.
Taking into account costed repairs at that stage a figure of £450K was determined.
Most notably within these efforts, and as many will be aware, a funded offer was made based on expressions of interest from close to 100 villagers, factoring in valuation information, plus estimated costs towards repairs and refit.
December 2019 was the last time an offer to buy was submitted, backed by these expressions of interest which reached in excess of £500k.
This offer received no response.
2020 onwards became more of a watching brief from the group with efforts more shaped toward preservation.
We continued to be watchful of the situation, doing so in parallel with councils and groups (such as CAMRA) monitoring and acting to try to ensure the Asset of Community Value (ACV) registrations were retained and any moves to formally attempt change of use identified.
It was relisted for sale again in June 2021 at £925k
Concurrently and through until 2026, processes were followed by the authorities to consider (and ultimately reject) both a change of use application and an established use certification. Both being contrary to local and national planning policy.
Now and Next:
So here we land, May 2026 with the pub on the market for what is reported to be an asking price more in-keeping (pardon the pun) with a current market valuation.
This certainly points toward a fresh chapter in the tale of Speen’s King William IV and perhaps an opportunity for the community.
Through the journey from its 2015 closure, and with the enduring vision of there being a pub of some form active in Speen, we thought it worthy of sharing just some of the the ideas that have been put around for what could feature:
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Destination Pub
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Community drinking establishment
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Pop up guest catering
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Community meeting hub
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AirBnB rooms
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Coffee / Cafe plus pub
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Hub for cyclists, hikers and dog walkers
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Complementary relationships with the shop, Village hall, pavilion
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Opening up to the rear to the playing fields
To round off, the existing Save the KW4 group remain keenly interested and invested in what comes next for King Bill, but absolutely recognise that 10+ years is a long time for people, residents and perspectives to evolve. Accordingly, in sharing this information at this juncture, we’re each wanting to see which of our fellow villagers have interest, opinions, ideas and hopefully energy to get involved in what could or should come next.
So if you’d like more information or to discuss or explore further, please get in touch.