The Suffolk villagers facing a race against time to stop the sale of their local beauty spot

• Video report by ITV News Anglia's Andy Ward

A group of villagers who are trying to buy their local beauty spot need to raise £60,000 over the next few weeks, or risk it being sold to someone else.

Campaigners from the newly formed Holton Pits Community Interest Company are attempting to purchase the disused gravel pit at Holton, near Halesworth in Suffolk, which is popular with dog walkers and anglers.

The group have managed to secure an order which means the site has been named as an 'Asset of Community Value'.

This effectively means that they are first in line to buy the land for £200,000 from building suppliers Cemex, who own it, but that special status is due to expire in May.

The group have already managed to secure £140,00 through loans and donations, but if they are unable to raise the remaining £60,000 by the deadline, Cemex will be free to put the site back on the open market.

"We're optimistic we'll be able to raise the money, we've had a lot of support from the local community," Kevin Moores from the group told ITV News Anglia.

"Meeting the people here has been inspirational. It's been great working together. We're not going to give up."

Members of the group are concerned that if their bid is unsuccessful, any new owners would be able to prevent public access to the site.

They are also worried that new developments could threaten its fragile biodiversity, with the site currently home to many species of plants and wildlife.

"The worse case is that it will be fenced off, so how to deal with that? Buy it ourselves, that's the answer," said campaigner Rachel Kellett.

"The community are full of enthusiasm for things that they could do with this site and how they could make the most of it, but mostly, it's about retaining it as it is."

The group are now appealing for fresh donations and will be holding a public meeting on Sunday.