Aveton Gifford residents who are looking to set up their own shop and post office have offered their first shares.

Every person in the South Hams village will be offered the £5 shares, with the money raised going towards the building of the new premises.

The villagers say that at least £75,000 is needed to fund the ambitious new project.

Aveton Gifford's last permanent shop and post office was forced to close back in 2003.

Soon after, local residents raised nearly £27,000 to set up their own shop and post office in a portable building - known locally as the "Green Tin".

This green metal building, which sells items such as stamps and organic vegetables, is situated in the village's main car park.

Gary Streeter, MP for South West Devon, officially launched the pioneering scheme on Wednesday afternoon.

"The community has got behind it, but now more space is needed to expand," said Burda Gage, a member of the trust founded to set up the expanded business.

"We are aiming to build a wooden eco-friendly farm shop building within two years, which will also have a cafe and an internet link.

"The business has been a lifeline for elderly people in the community who do not own a car."

The project has been supported by the Village Retail Services Association (ViRSA) - an Oxfordshire-based charity which helps rural communities set up and manage their own shop.

"There are about 170 community run shops in Britain today, and that number is increasing by around 20 a year," a ViRSA spokesman told the BBC Devon website.

"But village shops are closing at the rate of about 300 a year, so there is a shortfall to make up."