Preston music venue saved by 'National Trust' of gig spaces

The Ferret was at risk of closing down for good after its lease ran out in 2022 and the building was put up for sale. Credit: Republic Media

Tim Scott went to the Ferret to meet the campaigners who have been fighting to save it

An iconic music venue known for hosting world famous artists like Ed Sheeran, Alt-J, and IDLES, has been saved from closure by what's been dubbed "The National Trust" of grassroot music spaces.

The Ferret in Preston was at risk of closing down permanently after the building was put up for sale in 2022.

It was advertised as having potential for a "residential conversion", leading bosses at The Ferret to worry their new landlord would close them down.

As one of the city's only independent music venues, Preston Council labeled it as an asset of community value and blocked a commercial sale for six months to give locals time to raise the money and prepare a bid.

As well as providing a space for local people to see big bands like IDLES, it also provided spaces for up and coming grassroots bands like English Teacher and Maruja.

Now, the Music Venue Trust has stepped in and raised enough money to buy the 200-capacity venue.

The charity will now act as The Ferret's landlord, and has signed a cultural lease that guarantees use of the building as long as it operates as a space for grassroots live music.

The 200-seat venue has now been handed a lease that guarantees it can stay open. Credit: Republic Media

The Ferret's Director and Programme Manager, Matt Fawbert, said: “This is a monumental moment for The Ferret.

“We’re extremely pleased to be able to say that our venue is now safe and secure for years to come.

"We want to thank everyone who invested and donated, but today we especially want to thank our friends at Music Venue Properties.

"To have a landlord that is dedicated to live music and supporting grassroots music venues gives us the security and confidence to not only continue delivering great live music to the people of Preston, but also to invest even more in grassroots music and culture and create something very exciting in our city.”

Bass guitarist for rock band IDLES Adam Devonshire said: "We've been fortunate enough to be looked after by the wonderful, hard-working team at The Ferret on a couple of occasions now, so can easily attest to how important a role it plays within the city and how vital a cog it is within the network of grassroots venues in this country.

"Venues like this are the backbone of the industry and they must be protected by all means necessary. Up The Ferret and all who sail in her.”

IDLES are one of the many iconic bands to have performed at The Ferret Credit: PA

The Ferret is the second property bought by the Music Venues Trust, who also purchased The Snug in Atherton in October 2023.

The charity is also in the process of raising money to buy seven other venues across the UK.

To buy The Ferret, the Music Venues Trust raised money through an investment scheme as well as a £150,000 loan from Preston Council.

Mark Davyd, the CEO and founder of the Music Venue Trust said: "The Ferret is the second venue removed from the commercial marketplace under the Own Our Venues scheme.

"It is now able to make long term plans for its future, and the future of live music in Preston, as a result of a new cultural lease that provides it with permanently protected status.

"We have already seen the huge difference this has made for the Snug in Atherton, and we want to see this project rolled out to many more venues across the country.”

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