The owner of Shrewsbury's Buttermarket has agreed to sell the nightclub after 15 years, with the venue set to become part of Shrewsbury-based Cove Group from January 2027.
Martin Monahan announced the sale on social media, saying more than £2m has been invested in the Buttermarket since 2012. He said it was important the venue went to new owners who understood its potential and had the ambition to take it forward.
"The Buttermarket has been a huge part of my life, and I'm incredibly proud of what we've achieved here and the reputation we've built," Monahan said.
What will change under new ownership
Cove Group, which already operates the former Dana Prison in Shrewsbury, has pledged the Buttermarket will remain a nightclub. The company's chief executive Joel Campbell said it had "ambitious plans" for the site while preserving what made it popular.
The existing management team will remain in place, with staff, entertainment and bookings continuing unchanged. All existing tickets and bookings will remain valid following the takeover.
Campbell said: "This is the beginning of an exciting new chapter for another of Shropshire's fantastic historic landmarks."
Background
The Buttermarket was originally built in about 1835 as a terminal warehouse for the Shrewsbury branch of the Shropshire Union Canal before later being converted into an entertainment venue. It is Grade II-listed.
Under Monahan's ownership, the venue established itself as Shropshire's largest independent live music and events venue.
Monahan has promised further announcements on future events, experiences and development plans. The deal means two of Shrewsbury's best-known historic buildings — the former Dana Prison on Howard Street and the Buttermarket — will soon come under the same ownership.