Menter Ty’n Llan is a community enterprise in Llandwrog, set up in February of this year to purchase the village pub, which has been closed since 2017.
The enterprise succeeded in reaching their target of £400,000 in June, and the push to sell shares was backed by Twin Town actor Rhys Ifans.
The enterprise’s plans have been described as “ambitious”, and includes restoring the building as a pub, as well as a restaurant and community centre.
Earlier this year, in a plea for contributions, world-famous actor Rhys Ifans said: "A good pub is the heart of the community, but it can’t be if it’s closed".
Last week Menter Ty’n Llan was visited by the local Member of the Senedd, Siân Gwenllian, and her Westminster colleague Hywel Williams MP.
Siân Gwenllian said: “I was delighted when the enterprise reached its financial target. As I said then, enterprises such as this one are vital for the sustainability of our small villages, as well as the Welsh language.
“I was delighted to visit the pub, with two members of the committee.
“It is clear that those involved in the enterprise are full of enthusiasm and ambitious ideas, and it’s great to see local residents taking responsibility and ownership of their communities.
"There’s a strong community spirit in this area, we’re used to doing things for ourselves, and the enterprise’s volunteers are an example to us."
Hywel Williams MP added: “Ty’n Llan is a pub of huge historical and cultural importance, and it is heartening to see local people working so hard to turn it into a valuable community resource.
“It was clear from listening to the members of the committee that the pub meant a lot to the community, and that there were a lifetime of memories attached to the place.
"I’d like to thank the enterprise for the invitation to visit, and for their enthusiasm."