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MVT launches new share offer to save iconic UK Venues
May15
Music Venue Properties (MVP), a Charitable Community Benefit Society established by the Music Venue
Music Venue Properties (MVP), a Charitable Community Benefit Society established by the Music Venue Trust (MVT), has announced a second community share offering as part of its `Own Our Venues` initiative.
The campaign aims to secure the future of seven grassroots music venues (GMVs) across the UK by transitioning them into community ownership.
Venues included in this latest acquisition phase are Esquires (Bedford), The Sugarmill (Stoke-on-Trent), The Joiners (Southampton), The Croft (Bristol), Peggy’s Skylight (Nottingham), The Lubber Fiend (Newcastle), and The Pipeline (Brighton). The share offer opens today and will run until July 31, 2025.
The initiative seeks to protect venues from the instability of short-term commercial leases, which MVP says average just 18 months and leave many GMVs vulnerable to redevelopment or closure. Community ownership, through a model MVP calls the “cultural lease,” provides fair rent, maintenance support, and long-term operational backing.
This second round follows MVP’s initial share offer in 2023, which raised £2.88 million and helped secure venues such as The Ferret in Preston, Le Pub in Newport, and The Snug in Atherton.
“The key threat to the grassroots music venue sector has always been property ownership,” said MVP Chief Operating Officer Matthew Otridge. “Over 90% of venues are tenants, and when landlord and tenant goals don`t align, the venues are at risk. Community ownership is a sustainable solution.”
Local operators have voiced their support. Gareth Barber, Director of Bedford Esquires, warned of the potential loss of the venue due to land redevelopment, stating, “Without this initiative, there’s no viable path to keeping the venue for the town.”
Ricky Bates, operator of The Joiners in Southampton, echoed the concern, noting the historic venue’s lease is ending this year and that purchasing the building privately isn`t feasible. “With the support of this campaign, we can secure The Joiners for the next 60 years and beyond,” he said.
MVP reports that in 2024 alone, 86 grassroots music venues either closed or stopped operating as live music spaces. The organization hopes the new share offer will help preserve key venues that have long served as launchpads for emerging artists and hubs for local music communities.
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