They want to purchase this iconic local landmark and live music venue to create Hannover's first Community Free House.
The group, known as The Friends of the Greys, was formed in response to a decision by current owners Ei Group to sell off the pub, which has been at its current location in Southover Street since 1878, but has suffered from multiple changes of management and a lack of investment in recent years.
The volunteer group has already taken a major step towards their goal in securing "Asset of Community Value" status from Brighton & Hove City Council.
The next step is the launch of the public share offer which the Group hopes will secure the necessary funding to buy the pub and restore it to its former glory.
Spokesperson for the Friends of the Greys, Keith Farmer commented: "Our vision is to reinvent The Greys as a social enterprise owned and run by the residents of Hanover and the wider public of Brighton and beyond.
"As well as providing a great pub we also aim to provide a daytime resource for community groups, offering space for creativity, learning, support and wellbeing initiatives run by, and for, residents.
"We will also be providing the very best of British and worldwide real ales and craft beers, locally sourced food, and reinvigorating the Greys' tradition of live music."
Anyone interested in helping to save the Greys can join the Friends of The Greys Facebook group to receive notice of the share offer later in the autumn and discuss any activities or community project or ideas you may have. Alternatively e-mail firstname.lastname@example.org or call 01273 205250 to find out how you can be a part of bringing The Greys back to the heart of the community.