News: Music Venue Trust announces launch of scheme to purchase the freehold of Grassroots Music Venues
24 May 2022
Music Venue Trust announces launch of Music Venue Properties, a Charitable Community Benefit Society (CCBS) to purchase the freehold of Grassroots Music Venues across the UK.
Mark Dayvd, CEO of Music Venue Trust said, “This is the most ambitious initiative Music Venue Trust has ever undertaken. The long-term security and prosperity of grassroots music venues depends almost entirely on one thing – ownership. Too many have been at the mercy of some commercial landlords whose motivations revolve primarily around profit. We have lost over a third of our venues in the last 20 years and with over 90% having only 18 months left on their tenancies we are at the cliff edge and could see the decimation of our sector if we don’t do something radical about it. The Music Venue Properties scheme will allow ethical investors and music fans to invest in the future of live music while receiving a healthy return on their money. Our #SaveOurVenues campaign launched during the pandemic raised over £4.1m with more than 80,000 people contributing. We already have the crowd – we just need to ask them to invest from May 23rd and are confident they will.”
For further information please visit www.musicvenueproperties.com where a full overview of this new initiative can be found.
The opportunity to invest in Music Venue Properties will go live via this website on May 23rd.