Exchange has invested £1,000 to become a member of Music Venue Properties, a Charitable Community Benefit Society set up by the Music Venue Trust.
Music Venue Properties (MVP) seeks to address the biggest issue facing Grassroots Music Venues (GMVs), which is the private ownership of the buildings that house the vast majority of them. As a not for profit charitable organisation, MVP will purchase the freeholds of GMVs across the UK and act as a benevolent landlord that will seek to reduce rents and make contributions towards insurance and repairs.
Exchange founder and director Matthew Otridge, started working for Music Venue Trust during the pandemic and recently became MVT’s Ownership Coordinator
“Exchange is proof of what can be achieved when the aims of a tenant are aligned with those of the landlord – In the past couple of years Exchange has invested a significant amount of money into the venue, improving accessibility, environmental sustainability, technical specification and sound proofing. It’s hard for other venues to make this kind of investment when they have, on average, 18 months left on their tenancies and a landlord that is more often than not seeking to maximise their investment. This campaign represents an opportunity to do something radical to address the issues around ownership and secure the long term futures of these vital institutions. It’s been useful to be able to take what I’ve learnt about venue ownership and community shares at Exchange to help achieve this goal.”
If you wish to invest in MVP alongside Exchange then you find out more via the Crowdfunder – If you’re unable to invest at this time then please consider sharing.
Previously Exchange also invested in the Sister Midnight Community Share Offer.