TO VENUE OWNERSHIP
Got some spare quid you’d like to use on a hall or club that presents concerts? Music Venue Trust has got an opportunity for you.
MVT has an ambitious new plan, Music Venue Properties, a Charitable Community Benefit Society that will purchase the freehold of grassroots music venues.
Unlike a charity, a CCBS can raise money via Community Shares. Investors provide funds to allow MVP to buy freeholds, then receive a 3% APR return on their investment.
MVP has identified nine venues for the pilot project that will allow it to establish proof of concept. Six venues are in England, one in Scotland and two are in Wales. With an initial target of £3.5m to purchase these venues, the first Community Share Offer has opened today. The plan is to purchase these venues before the end of 2022.
“This is the most ambitious initiative Music Venue Trust has ever undertaken,” MVT CEO Mark Dayvd said. 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.
“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.”
