Featured Image: Edward Cisneros on Unsplash
Music Venue Trust (MVT), a charity which represents grassroots music venues in the UK, has revealed the first acquisition under its #OwnOurVenues scheme.
The Snug, a 100-capacity venue in Atherton, Greater Manchester, has become the first grassroots music venue purchased by Music Venue Properties (MVP), an independent Charitable Community Benefit Society (CCBS) created by MVT in May last year.
MVP’s goal is to purchase grassroots music venue freeholds and lease the properties back to operators on a ‘friendly lease’, with reduced rents and help with insurance or repairs.
Earlier this year, it was revealed that the #OwnOurVenues campaign raised £2.3m (€2.7m/$2.8m) from over 1,200 individual investors, including a £500,000 investment from both Arts Council England and Arts & Culture Finance.
“The Snug being purchased by Music Venue Properties means everything to me, my team and our community, as it allows us to continue to provide this very important space to up and coming artists for many years to come,” said Rachael Flaszczak, managing director of The Snug.
Elsewhere, Music Venue Trust has signed a funding agreement with The Piece Hall in Halifax, along with promoter Cuffe and Taylor.
For all 2024 shows at the Yorkshire venue, fans will be able to opt in to add a donation to MVT when purchasing tickets through Ticketmaster. The funds will go towards supporting grassroots music venues in the local area through MVT’s Pipeline Investment Fund.
Mark Davyd, chief executive and founder of Music Venue Trust, said: “This has been an incredibly challenging year for grassroots music venues, with more than 100 venues forced to close their doors to live music and many more at risk.
“It is absolutely vital that everyone in the music industry recognises the incredible strain the grassroots sector is under, and so it’s great to see The Piece Hall leading the way with a plan that will really make a genuine difference to other venues in the local area.”
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