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An American tycoon who helped set up the social media networking site Bebo has now turned a store which was built by his great-great-grandfather into 'Britain's poshest corner shop.'

Michael Birch set out to renovate an English village, as locals say they 'love' the makeover.

He made his fortune by helping to set up several social media networking sites - including Bebo - which he sold for a whopping $850million in 2008.

The creator of the once popular site has since been spending his cash on buying building and land in Woolsery, north Devon, and renovating 'derelict' stores.

There is also a personal element to his project, as some of his family are from the village and he visited it as a boy.

Birch and his wife have already begun restorations, buying the local pub, fish and chip shop, manor house, several properties - as well as 90 acres of farmland.

They have now transformed the 'derelict' local store into a posh shop.

However, this has received mixed reaction from locals.

Birch's great-great grandfather built Woolsery village shop which remained in the family until it was sold in 1961.

His grandmother Millicent Andrew was also born on village shop's premises in 1900.

Some say they 'absolutely love' the makeover - but others saying it would have been 'better seeing investment on a local level'.

Speaking out about the transformation, one local said: 'Absolutely love our village shop make over. All the buildings were listed and derelict back in 2015 and have been renovated at the cost of millions.

'We've already been lucky enough to have the pub, restaurant, fish & chip shop completely renovated by a millionaire who spent his childhood in the village.

'The manor house is still being done up and there's a bakery to be added as well.

'So lucky to buy in this village without any knowledge of the investment that was being planned.'

But another said they would have rather seen the investments go on a local level, that would have 'benefitted the local families.'

They said: 'Beautiful renovations clearly needed In the village but given it was an American tech millionaire owning it all it would have been better seeing investment on a local level and some sort of cooperative that benefitted the local families.'

The shop now sells basics such as bread, milk, tins and biscuits and offers local products including sausage rolls, pasties and artisan spreads and cakes.

But some locals have commented on the extortionate prices - with a two litre bottle of milk costing 2.10 - which are much higher than seen in other local stores and supermarkets.

A tin of Heinz soup cost 2 at the new shop - even more expensive than Waitrose which sells it at 1.70 and Sainsburys for 1.50.

However, most locals seem happy to spend the expected premium prices in exchange for the investment in their small village, with one local commenting: 'No one would run at a loss, convenience stores are more expensive. At least they're selling some local good stuff too.'

Birch and his wife, Xochi, are currently renovating a manor house which is set to become a 17-bedroom hotel with a second restaurant.

In addition the couple own 90 acres of farmland in the village which will provide ingredients.

Original post:
American tycoon who helped set up Bebo turns store into 'Britain's poshest corner shop' - Daily Mail