A pub at the centre of an ambitious community take-over bid has failed to sell at auction.
The once thriving Crichie Inn at Stuartfield went under the hammer at a sale in Edinburgh, much to the surprise of locals who have spent the last year raising funds to buy it.
The centuries-old watering hole has been on the market for three years and villagers fear it could be lost forever if sold to a private developer.
Residents were give just a few weeks warning that the Burnett Street establishment – the only pub in the village – was to be offered at an auction this week.
Yesterday, members of the Crichie Community Inn steering group said they were relieved that it had not sold, but were now considering whether to push ahead with their campaign.
Secretary Geoff Ewing said: “We had hoped to make our own bid at the auction, but we simply didn’t have enough time to raise the money.
“If we are going to succeed, we will need a significant bank loan. What we have to do now is speak to potential investors and see if they believe it is worth continuing with our bid.
“As things stand at the moment, the campaign is still on.”
The steering group formed an industrial and provident society – known as the Crichie Community Hub Ltd – which gave it the legal status to sell shares.
Campaigners say they want to return it to its former glory and make it a focal point for the community, providing a range of activities and entertainment.
The group is also considering the possibility of setting up a library inside the pub, which has changed hands several times in the past decade.
Last night, a spokeswoman for SVA Property Auctions confirmed the inn had not sold. It was being offered for sale with a starting price of £155,000.