A group campaigning to save the Ten Bells pub in Stonham Aspal has been officially registered as a community company.
The Ten bells Community Hub Ltd now is asking people to register their interest in purchasing shares in the venture.
The money raised with be used to put a bid in to purchase the pub, refurbish the building and turn it into a community hub.
The team is currently producing a share prospectus to send to interested parties.
Tracy Hall, who is part of the community interest company, said the village had really got behind the idea.
She said: “The plan is for it to be a community hub which will offer real ales, good homemade food, a coffee shop, a parcel drop and will have free wi-fi.
“The idea is then to develop it further and offer IT facilities – computers, printers, photocopiers.”
“Where it goes from there depends on the community members and management committee to see whether it becomes a shop as well – there are lots of possibilities It has progressed pretty rapidly.”
Tracy said a ‘moratorium period’ was in place until March 6, meaning pub owners Punch could not sell the building before that date.
“That doesn’t mean Punch have to sell it to us when that period is up,” said Tracy.
“It just buys us some time to get the funds ready to put a bid in.
“But I think the community would now prefer to have it as a community hub than a pub.
“When we started out trying to save the pub we said it would be nice of someone came along and bought it but there are quite a lot of people now who see the plans as a big part of village life in the future.
“Of course, if we were not successful in buying it we would be actively looking to support whoever bought it.
“It is important to have it reopened as a facility and not just sitting there derelict.”
If you would like to register your interest,visit www.tenbells.co.uk