£500k to change Corn Exchange pub into shops and flats

Protesters said plans to turn the pub into a shop open from 07:00 GMT to 23:00 would "dramatically change" the town

Villagers have raised £500,000 to convert a former Powys pub into flats and shops to prevent it being turned into a well-known supermarket.

A total of 220 investors paid from £500 to several thousand pounds for a share in The Corn Exchange venture.

An action group to buy the pub was formed last March over fears plans for a mini-supermarket would "dramatically" affect Crickhowell's independent shops.

Campaign leaders said the action was a "shining example of community spirit".

Dean Christy, chairman of Corn Exchange Crickhowell Ltd which is to buy the pub from owner Punch Taverns, said: "The community of Crickhowell has stepped up to the challenge of protecting its high street in the most spectacular way.

"People have dug deep to fund a new future for The Corn Exchange in line with the town's character and heritage."

The pub's purchase is expected to take place later this month with plans drawn up for its conversion to start shortly after.