£500k appeal to save historic hotel for community
A£500,000 appeal has been launched to save one of Wales' most famous hotels and transform it into a community enterprise.
The Owain GlyndŴr Hotel – site of the first public eisteddfod in 1789 – is being offered to the community for a knockdown price but residents only have until June 1 to raise the money needed.
The hotel stands on Corwen's London Road, a section of the historic A5 from London to Holyhead which has carried Roman legions, horse-drawn mail coaches and holidaymakers over the past 2,000 years. It stands opposite a statue of Owain Glyndŵr, the last native Prince of Wales, who would have known Corwen well.
As the Grade II-listed building in Denbighshire has been on the market for more than three years, without attracting a buyer, the fear is it will ultimately close, deteriorate and become an eyesore. For some time local residents have been drawing up a rescue plan and now a partnership has been formed to formalise a purchase bid.
The hotel is one of eight remaining coaching inns on the A5 and owner Ifor Sion, who has kept the hotel going for the past 25 years, is offering it for £300,000. As well as buying the building, the Corwen Partnership is aiming to invest a further £200,000 on upgrades and conversions.
The group plans to launch its appeal with a share issue during five days of community events at the hotel, starting on St David's Day, March 1.
Partnership chairman David Counsell said: “The big driver for us is seeing what's happened to similar hotels which have ended up boarded up and derelict. It would be an absolute disaster for the town if that happened to the OG, as it is affectionately known.
“Corwen has suffered badly in recent years with local pubs and businesses closing. We hope that by buying the hotel as a community, we can reverse this trend and turn it into a popular destination again. With the imminent return of the Llangollen and Corwen Railway, we will be able to welcome more visitors and put Corwen back on the map.”
The partnership is being backed by Corwen Town Council, Cadwyn Clwyd, South Denbighshire Community Partnership and many local businesses. It has set up the Owain Glyndŵr Community Hotel Ltd as a Community Benefit Society and is to issue £500,000 worth of shares, each at £200, with a maximum stake holding of £50,000.
One vote will be allocated to each shareholder, irrespective of the number of shares bought. A business plan suggests the building could eventually make a profit of £100,000 a year.
From March 1, tours of the hotel will be available to appreciate its potential. With 15 en-suite bedrooms, function rooms, bars, kitchens and cellars, the organisers believe it has the makings of a thriving community hub.
Other ideas discussed in the past capitalised on Owain Glyndŵr's links to the area. They range from a museum and education centre offering Glyndŵr tours to his Glyndyfrdwy birthplace and other local sites.
Mr Counsell added: “There are about 100 pubs in community ownership across the UK, many of them in smaller towns and villages than Corwen. Only one of them has gone out of business during Covid, so we believe there is a future for the Owain Glyndŵr.
“No-one will make a profit from their shares, it's more about making an investment in the future reinvigoration of the town. The building is basically sound and we were all surprised at what good condition it is in – but we only have until July to buy it.”
The rear of the hotel dates back to 1329, so it is therefore likely that Glyndŵr, born five miles east in Glyndyfrdwy in 1354, could indeed have passed or even entered the building.
Pre-1789, eisteddfodau had been held for poets and adjudicators. The eisteddfod at the hotel is seen as a precursor of today's National Eisteddfod.