Featured Image: Music Venue Trust
Music Venue Properties has acquired Le Pub in Newport as part of its mission to safeguard grassroots music venues across the UK.
The purchase was made under the #OwnOurVenues scheme and included £250,000 ($300,000/€297,000) from its community ownership fund.
“We are very excited to be part of the Music Venue Properties family of owned venues,” said Le Pub manager Samantha Dabb.
“Having a landlord who is as passionate about live music as we are, will make a massive difference to us and guarantee the venue’s future in Newport.”
The #OwnOurVenues project was launched in 2022 and focuses on removing venues from commercial leases by placing them into community ownership.
The aim is to provide long-term stability to venues that help to foster local talent and provide cultural value to local communities.
“For years, Le Pub have been at the forefront of the Community Shares movement amongst the GMV [grassroots music venues] Community, so it feels only right their long-term future has now been secured by Music Venue Properties, an organisation that would not have existed if not for Community Shares and those like Le Pub who paved the way,” said Music Venue Properties chief operating officer Matthew Otridge.
“I’m grateful to be a part of this amazing story and look forward now to working alongside Le Pub and its community of investors to help realise its vision for the rest of the building.”
To date, almost £2.8m has been raised for #OwnOurVenues from more than 1,300 individual investors and funding.
In addition to Le Pub, Music Venue Properties has also purchased The Snug in Greater Manchester, The Ferret in Preston, The Bunkhouse in Swansea, and most recently The Booking Hall in Dover.
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