By Lizzie Edmonds PUBLISHED: 06:32 EST, 8 October 2013 | UPDATED: 07:01 EST, 8 October 2013 A group of pensioners have bought their retirement village after its owners went bust. The previous owners of the Woodchester Valley Village, near Stroud in the Cotswolds, Bluchie Limited went into liquidation three years ago. And since then, the residents of the complex - previously called Crystal Fountain Village - have been fighting to buy the freehold to the retirement complex. Celebration: Residents of the Woodchester Valley Village in Stroud who brought their retirement village after the owners went into administration After three years of hard work, plus determined fund raising, the pensioners have now bought the freehold from the administrators.
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Woodchester Valley Village, near Stroud, was previously run by Bluchie Limited, which went into liquidation three years ago
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Pensioners at 73-home complex bought the freehold from administrators, making them the first group in the UK to do so
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'It is the future. It will be the model for others,' Residents' Association says
'@placeholder now welcomes all those who seek something different.