Tipplers offered the chance to own their local

A co-operative bar owned and run by its drinkers is being "floated" in central London.

From today "mini-shareholders" can pay £175 for life-membership of the scheme then vote online for everything from the bar's location to the drinks on sale and the interior design.

The five former university friends behind the "My Your Our" venture said it was similar to Kent football club Ebbsfleet United. The club was bought in 2007 by its fans, who make transfer and player selection decisions.

Co-founder James Wilkins, 31, said: "MYO takes the excitement of being involved in management to the next level. You can drink in your bar, but you can't play in the Ebbsfleet team."

The co-operative needs 2,000 contributions to go ahead. The aim is to put offers in for leases on properties in Tube Zone 1, probably Soho or the City, by the end of January.

The co-owners will all have a say in which venue is chosen.