The UK’s Music Venue Properties (MVP) has acquired Newport’s Le Pub under its Own Our Venues scheme.

Founded in 1992, Le Pub (also known as Le Public Space) has been touted as a ‘cornerstone’ of Newport’s music scene with alumni including Skindred and Kids in Glass Houses.

The venue, which also operates as a bar, restaurant, and nightclub, has endured a handful of challenges over the years including a relocation to new premises. Now, under MVP’s #OwnOurVenues initiative, the future of the venue has been secured.

Own Our Venues was originally launched as a Community Share Offer in 2022 as the first step in a long-term campaign to take control of the freeholds of music venue premises and bring them under a protected status of benevolent ownership.

The project was made possible by more than 1,200 individual investors including £500,000 investment from both Arts Council England and Arts & Culture Finance.

“Having a landlord who is as passionate about live music as we are, will make a massive difference to us”

To date almost £2.8m has been raised from over 1300 individual investors and funding. The scheme has received additional support from the Community Ownership Fund including £250k to realise the purchase of Le Pub.

In addition to Le Pub, Own Our Venues has purchased four other venues: The Snug in Atherton, The Ferret in Preston, The Bunkhouse in Swansea and The Booking Hall in Dover.

“We are very excited to be part of the Music Venue Properties family of owned venues,” says Samantha Dabb, the manager of Le Pub. “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.”

Mark Davyd, founder of Music Venue Trust, adds: “Le Pub was one of the very first venues to join the Music Venues Alliance, and has been, for the last ten years, one of the most vocal and active campaigning voices about the importance of grassroots music venues to our communities, towns and cities. To see it taken into protected ownership, guaranteeing its future for decades to come, is a huge step forward for live music in Wales and a beacon of what can be achieved through projects like Music Venue Properties.”

To mark the acquisition, Le Pub tonight (10 January) will host a special plaque unveiling and evening of live music with performances by local homegrown talent Murder Club and a guest set by Sam Duckworth of Get Cape. Wear Cape. Fly.

The event will also feature speeches from supporters and local government representatives.

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UK charity Music Venue Trust (MVT) has announced a third acquisition by Music Venue Properties (MVP) under its Own Our Venues scheme.

The Bunkhouse, a 235-capacity live music venue, rehearsal space and photography studio in the heart of Swansea city centre, has become the first Welsh venue to be placed into permanent protected status by MVP.

Following the purchase, The Bunkhouse’s operators have signed a ‘cultural lease’ with MVP, which is an agreement specifically created by MVP to guarantee that, as long as The Bunkhouse operates as a space for grassroots live music for their local community, they can enjoy the use of the building.

MVP has also offered the venue a rent reduction and a contribution towards building repairs and insurance, and will work with the team to develop parts of the building that are currently unused.

MVP’s other purchases include The Ferret in Preston, secured earlier this year, and the October 2023 acquisition of The Snug in Atherton, Greater Manchester.

“The last few years have been a rollercoaster for The Bunkhouse and the music community in South West Wales,” says Jordan McGuire, director of The Bunkhouse.

“When the building went on the market, the threat of closure was very real, and it wasn’t just about potentially losing my business, it was about losing a home for the musicians, the artists, and the fans who have found their voice here. The Bunkhouse has played a pivotal role in shaping the music scene in Wales, and the thought of it disappearing was heartbreaking for everyone.”

“The Bunkhouse has played a pivotal role in shaping the music scene in Wales”

“Now, with Music Venue Properties stepping in as our landlord, those fears have been laid to rest. The future looks bright. We can finally focus on continuing to develop the next generation of talent, knowing that The Bunkhouse is secure and will remain a cornerstone of Swansea’s music scene long after I’m gone. This partnership ensures that The Bunkhouse will continue to serve as a place where musicians can express themselves and music lovers can immerse themselves in the experience for generations to come. I’m incredibly excited for what’s ahead.”

Mark Dayvd, CEO of Music Venue Trust said, “The Bunkhouse is the lynchpin venue for new and emerging artists in the Swansea scene. Jordan and his team have created an essential stop for any breaking band tour and it’s fantastic to see that work recognised and the future of this venue secured for decades to come. Long live Bunkhouse!”

Own Our Venues was originally launched as a Community Share Offer in 2022. To date, almost £2.6m has been raised from over 1,200 individual investors. MVP received support from Swansea Council and Figurative, formerly part of Nesta, to realise this purchase.

According to MVT, 93% of GMVs are tenants with the typical operator only having 18 months left on their tenancy.

The issue of ownership underpins almost every other challenge that GMVs have faced during the last twenty years, says MVT, including gentrification, noise complaints, under-investment, poor economic models, and an inability to plan for the future.

Earlier this year,  Davyd told IQ that seven venues across the country had been identified for purchase in this initial phase and that MVP had offers on three of those venues – which would now include The Bunkhouse.

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Music Venue Trust (MVT) has announced a second acquisition by Music Venue Properties (MVP) under its Own Our Venues scheme.

The Ferret in Preston, a 200-capacity venue which has hosted artists such as Ed Sheeran, IDLES, Alt-J, Royal Blood and many more, will now be placed into permanent protected status.

Following the purchase, The Ferret’s operators have signed a cultural lease with MVP, an “innovative agreement” specifically created by MVP to guarantee that, as long as The Ferret operates as a space for grassroots live music for their local community, they can enjoy the use of the building.

“This one was a very complicated and challenging process, but that’s good because it tested what we’re doing,” MVT chief Mark Davyd tells IQ.

“We had to make our way through a lot of legal complications and work out different bits of ownership law. But the important thing is, The Ferret is a highly valued and treasured space in this area. It has grown organically out of a music community here and has a fantastic team running it. It came under threat and not only has that threat gone, but the venue will be here forever.”

“The Own Our Venues programme is escalating”

The purchase of The Ferret follows the October 2023 acquisition of The Snug in Atherton, Greater Manchester.

A further seven venues across the country have been identified for purchase in this initial phase and Davyd reveals to IQ that MVT/MVP currently have offers on three of those venues.

“We would expect to announce at least two of those venues in no more than a month,” he adds. “The Own Our Venues programme is escalating and we’re still keen to get more people invested because it’s really transforming the future of these venues.”

Own Our Venues was originally launched as a Community Share Offer in 2022. To date, almost £2.6m has been raised from over 1,200 individual investors. Funding was matched with a £500k investment from Arts Council England, and the figure includes loans of £150k from Preston City Council and £500k from Arts & Culture Impact Fund.

According to MVT, 93% of GMVs are tenants with the typical operator only having 18 months left on their tenancy.

The issue of ownership underpins almost every other challenge that GMVs have faced during the last twenty years, says MVT, including gentrification, noise complaints, under-investment, poor economic models, and an inability to plan for the future.

In other MVT news, the organisation has appointed three key hires, with Sophie Brownlee joining as external affairs manager and Kimberley Goddard taking on the role of fundraising manager in a part-time capacity.

In addition, Sophie Asquith has been promoted to be the new venue support team manager, overseeing the work of the UK’s venue coordinators and heading up MVT’s Emergency Response Service.

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As it closes in on its £2.5 million fundraising target, the Music Venue Trust’s (MVT) Own Our Venues scheme has set a final deadline of 30 March to secure the remaining investment needed to start the purchase of properties.

Own Our Venues was launched as a crowdfunded project in June 2022 as the first step in a long-term campaign to take control of the freeholds of music venue premises and bring them under a protected status of benevolent ownership.

The concept is built on the Community Share model and is seeking to acquire nine venues in its first phase, with further venue freeholds to be identified and secured as and when they become available. Of the target total, £1.8m has already been secured and MVT aims to begin purchasing its first venues in April.

“The best people to Own Our Venues are the people who love them, need them and use them”

“We know that changing the ownership model of grassroots music venues is the single most important change we can make to this sector,” says MVT CEO and founder Mark Davyd. “The best people to Own Our Venues are the people who love them, need them and use them. We want to see everyone who has a stake in the future of these venues become a direct financial stakeholder in that future; local communities, artists, audiences, the music industry.

“The success of these venues is vital to the future of live music for all of us. This isn’t a time to sit on the sidelines hoping someone else will do this for us, it’s down to us to make it happen.”

On completion of purchase ,the venues will be offered an immediate rent reduction and help contribute to building repairs and insurance, while also guaranteeing long term security and market resistant rents.

Since the launch of the initiative, hundreds of individuals, companies and organisations have pledged their support, including high profile investors such as Ed Sheeran, Frank Turner and Ben Lovett, alongside companies such as Sony Music Entertainment and Warner Music.

Arts Council England has also confirmed a grant of £500,000 to the project, which not included in the crowdfunded total.

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