A community pulled together and raised £450,000 to save their local pub.
The Trawden Arms has been bought by the village from support of 320 residents who make up the Trawden Forest Community Forest Pub Group Limited.
The latest purchase will mean Trawden is set to become the first village in the country with a pub, community centre, library and shop all under community ownership.
Chair of the group, Dave Webber said: “It’s absolutely superb.
“At the beginning we were doubtful. We knew it was going to be hard work, but good campaigning and good communication to the investors has helped.
“Someone said to me that they would miss it if it was gone – people in Trawden help and support each other.”
Members of the group have met with the current owners of the pub, Martyn and Sharon Whitaker to organise the sale after the couple put the pub up for sale last year, saying they want to spend more time with their family.
After it went up for sale, there was rumour that the site could be developed into housing.
Not wanting to see their last pub disappear, the village pulled together to bring the pub into community ownership.
In this bid, the 126-year-old pub was listed as an Asset of Community Value in March 2020 which gave the community time to save their local.
County Councillor for Pendle Rural, Jenny Purcell said: “I am absolutely over the moon for the community.
“It’s a very well organised community and they have got a fantastic shop, library and post office and now they have got the pub which is fantastic.
“We have something unique here in Trawden.”
The huge amount of money was raised in just seven weeks, showing the community spirit which is alive in the village.
The purchase will take between eight and 12 weeks to complete which will give the group time to appoint a new tenant to run the pub.