A GROUP of residents are making a bid to raise £400,000 to save their award-winning community pub and live music venue.

The Hanover-based group, Friends of the Greys, was formed in response to a decision by current owners Ei Group to sell off the pub, which has been at its current location in Southover Street, Brighton, since 1878.

The community fundraiser is calling on residents to raise the money by the end of December to keep the doors open and to create Hanover’s first community owned free house.

Keith Farmer of Friends of the Greys, said: “Our vision is to reinvent The Greys as a social enterprise owned and run by the residents of Hanover and the wider public of Brighton and beyond.

“As well as providing a great pub we also aim to provide a daytime resource for community groups, offering space for creativity, learning, support and wellbeing initiatives run by and for residents.

“We will also be providing the very best of British and worldwide real ales and craft beers, locally sourced food, and reinvigorating the Greys’ tradition of live music. “

The pub has suffered from several changes in management and diminishing investment over the years.

The current owners of The Greys, the Ei Group, is one of the leading leased and tenanted pub business in the UK, owning more than 5,000 pubs.

The Ei Group has sold The Horse & Groom, The Albion Inn, The Cuthbert and The Rose Hill Tavern within the area in the past five years.

When the sale of The Greys was formally announced, the news was greeted with widespread dismay.

Labour councillor Emma Daniel said she was “really sad” to see the “well-loved” pub up for sale. She added: “It really is part of the character of my ward and I know residents are worried about losing this venue.”

The next step for the campaign is the launch of the public share offer which the group hopes will secure the necessary funding to buy the pub and restore it to its former glory. Anyone interested in helping to save The Greys can join the Friends of The Greys Facebook group.