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Music Venue Properties (MVP) is a pioneering initiative that aims to bring nine Grassroots Music Venues around the country into community ownership, protecting their vital contribution to the UK’s music culture.
23rd March 2023
30th January 2023
23rd December 2022
Dear supporter
We are excited to be able to tell you today
that Arts Council England have confirmed their intention to support Own Our
Venues through investment of up to half a million pounds. This takes our
fundraising total past £1million, and more importantly, is designed to
encourage other investors to support the programme.
Dr Claire Mera-Nelson, Director of Music at
Arts Council England, said:
“England’s
grassroots live music sector is one of the most exciting in the
world, and the Own Our Venues programme will help to provide long-term
security to venue management teams working in communities where there
are fewer opportunities for artists and audiences.
“Venues like these are spaces for artists to experiment, innovate, and
produce new and exciting work, and they are a key part of the
country’s grassroots music ecology, which keeps our music industry
thriving.
“In underpinning the financial future of independent venues we are opening
up opportunities for more people to benefit, whether that’s through the new
educational offers and activities they will be able to deliver, or by promoting
gigs in a way that brings new audiences through their doors. All of these means
that these venues will be better able to enrich the lives of the people in
their communities.”
Mark Davyd, CEO of Music Venue Trust &
Music Venue Properties, said:
“We are
delighted to be able to bring this news to our community of investors, which
brings the project closer to becoming a reality. We want to thank our
colleagues at Arts Council England for recognising the huge potential of the
Music Venue Properties organisation to make a positive change to the Grassroots
Music Venue sector. Still more work to do, but together we believe we can do
it, we can Own Our Venues.”
We have been working on this announcement for
some time, and although we are thrilled to share this news with you now, we
also realise that we do not have enough time to secure the remaining funding
and share purchases this side of Christmas. We have therefore taken the
decision to extend the share offer, in line with the terms in our Community
Share Offer Document, to 31st January 2023.
We are very confident that this will buy us
enough time to get the remainder of our grant funding over the line, which in
turn will give more confidence to new investors from the community to invest
alongside some of more prominent individuals / companies within the music
industry.
Although we are extending the Share Offer,
this does not make a difference to when members can expect their first interest
payment, as interest payment decisions need to be made at the end of each
financial year and MVP’s financial year starts in April.
We also wanted to make you aware that per the
terms of agreement with Ethex that the Share Offer will no longer be viewable
publicly on their website. Individuals can still invest via Ethex and so the
link will remain active meaning you can continue to chart the progress of this
Share Offer. We have included the link below for your benefit:
https://www.ethex.org.uk/invest/mvp
We appreciate and feel the frustrations of
investors, particularly those who supported the campaign at the very start, but
we remain confident that with your support we will be able to take the first
steps towards being able to Own Our Venues together.
Music Venue Properties Limited
Society no. 8635
Bournemouth, UK
Incorporation date: 05 July 2021
Help MVP protect the future of Grassroots Music Venues (GMVs) from the growing challenges posed by leased ownership.
Ensure more venues are owned by the live music community , providing affordable rents and security for the future.
Create better, safer and more sustainable music venues to serve live music fans and support new and emerging talent.
Earn a potential return. Investments in the Community Share Offer target a return of 3% per annum from year 2.
The UK has the potential to have the best grassroots live music circuit in the world. GMVs play a vital role as research and development labs for the £5.58 billion per annum UK music industry. Yet, they are under increased threat of closure as 93% of GMVs are tenants and with only 18 months on average left on their tenancies. Action needs to be taken to preserve their future- here’s why:
It’s your money so it follows that you want to know where it goes and what kind of impact you’re making. Your money will:
Music Venue Properties (MVP) is a pioneering initiative that aims to bring nine Grassroots Music Venues around the country into community ownership, protecting their vital contribution to the UK’s music culture.
Director
Music Industry Professional, specialising in event promotion, digital music distribution and event ticketing with 10+ years’ experience. Co-chair of the Music Venue Trust board of trustees.
“Having sat on the board of Trustees of MVT for 2 years, I have seen what a huge negative impact landlords can have on the sustainability of our grassroot music venues. I am passionate about ensuring our GMVs are owned by landlords who understand the music industry and share the same motivations. Purchasing venues through community shares is an inspired idea, which I support wholeheartedly”.
Director
Founding Partner of the Community Shares Unit, Hugh, a former investment banker, has over 20 years’ experience as an active social investor through Key Fund, Social Investment Business and the Community Shares Booster programme. He was awarded an OBE in 2021 for investment services.
“I am delighted to be involved with Music Venue Properties because I believe that some things are too important to be left to the vicissitudes of the market: amongst them great independent music venues clearly belong. I am a passionate believer in the power of Community Share capital – a truly radical form of investment where investors give up the prospect of capital gain to secure a wider public good and believe that this form of investment capital has an important role to play in a more sustainable future. I am excited to bring my experience of social investment to Music Venue Properties”.
Director
As a Chartered and Accredited Historic Building Surveyor, Gabriella has worked in the historic building industry for over 20 years, both in the public sector for the Government’s Statutory advisor and in the private sector.
“I am completely passionate about historic buildings. I am keen to help Music Venue Trust with my experience and knowledge of conserving and restoring the historic venues to secure their sustainable future not just for our benefit, but also that of our future generations”.
Director
Former live music promoter, booking agent and tour manager now working as a built heritage consultant specialising in planning applications for historic buildings.
“Independent grassroots venues are an essential part of the musical lifeblood. Without these training grounds for emerging talent there will be no future acts capable of headlining big clubs, theatres, arenas, stadiums or festivals. The road to recognition begins with these vitally important cultural assets. Music Venue Properties will hopefully become a strong bastion which will encourage both local and touring bands to keep aspiring towards success”.
Director
Finance professional with over 20 years of experience in financial management and transformation, notably at Universal Music as the Financial Controller of EMI Records. Now specialising in Sustainability, Governance, and Risk advisory for the SME sector. Natasha has a passion for sustainability and community, together with her finance and governance skills support her to champion grassroots projects.
“I am particularly interested in roles where I can add tangible value, evidenced by the introduction of governance and risk frameworks that promote strategy and resilience. As the Governance and Risk Advisor at Profit Impact, I support SMEs in embedding sustainability and realising their true value, not limited to solely the financial value, but including community and environmental value. I welcome the opportunity to contribute my experience to the board of MVP and forge a sustainable route to secure the future of our grassroots music venues”.
Director
Singer, songwriter, recording artist and music teacher (post-1 6), turned professional in 1980. Rhoda is the middle of three generations of songwriters/recording artists.
“I started going to gigs in 1973 and eventually found my way to the small West End clubs where innovation abounded. I saw Glam, Soul, Punk and the evening after I left school, I spent at the Blitz with many who went on to form that particular genre. I joined a band and we played small clubs to learn our craft. I am very grateful to be playing in one or two of those clubs more than forty years later. I say one or two, because many have disappeared. If Music Venue Properties had existed before, perhaps that would not have been the case. As the latest generation, my son is now out and about in the UK and Europe playing in small clubs. They really are the lifeline of our business."
Director
Legal Professional with over thirty years of experience advising individuals, businesses and charities.
“I was involved in the creation of MVT for which the work of MVP is a natural consequence”.
Director
Real estate investment professional, specialising in urban asset management, and Chartered Surveyor, with over 30 years of experience in the sector, the last 10 in private equity investment and development. He has represented the real estate industry as an expert contributor to the Mayor of London’s Night-time Economy Commission and sits on the Advisory Board at Sound Diplomacy. Non-exec roles include the new Goods Way venue at Kings Cross and The Rattle community of start-up inventors, artists, hackers and nerds looking to change the system.
“As a music nut I am passionate about a secure future for the UK’s grassroots circuit so jumped at the chance to be a part of the new MVP initiative and give something back for the thousands of hours of pleasure grassroots music has given me”.
Director
25+ years’ experience in the music industry working as a Music Booking Agent representing artists’ live careers worldwide. Director/Owner of recently launched company which is a Booking Agency and Consultancy. Co-chair of the Music Venue Trust board of trustees.
“MVP is important as we see the urgent need to help venue managers get the support in keeping beloved grassroots venues as part of each local community. With MVP it will give them the freedom to keep that intact and work to continue to give music lovers a place to go and developing artists the platforms needed to succeed”.
Team Member Position 10
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Team Member Position 11
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Team Member Position 12
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Music Venue Properties is targeting a 3% interest rate per annum from year 2, with shares accruing interest from the close date of the offer.
Music Venue Properties (MVP) is offering community shares which are "withdrawable" shares. These cannot be bought or sold on any market place and are not transferable. Although shares in MVP are withdrawable, this is at the discretion of the directors, and you may not be able to withdraw the full amount you purchased if MVP does not have sufficient funds available at the time you want to withdraw.
This offer is not eligible for investment on behalf of children.
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