The Buttermarket owner to ‘hand over the baton’ after 15 years.

New owners will take over The Buttermarket from 1 January 2027 - with their identity to be revealed on Wednesday morning.

The owner of The Buttermarket in Shrewsbury has announced that he is preparing to ‘hand over the baton’ after almost 15 years at the helm of one of Shropshire’s best-known independent live music and events venues.

Martin Monahan, who purchased The Buttermarket in 2012, says the change of ownership will secure the long-term future of the iconic venue while providing the investment, energy and ambition needed to take it to an even higher level.

The identity of the new owners will be officially revealed on Wednesday morning, ahead of them taking over The Buttermarket from 1 January 2027.

Since acquiring the venue, Monahan has invested over £2 million in its restoration and development, with a long-held ambition of establishing The Buttermarket as Shropshire’s biggest independent live music and events venue.

The venue now hosts an extensive programme of live music, original touring artists, tribute shows, comedy, day parties, family entertainment, Bongo’s Bingo, private events and major branded events throughout the year.

Announcing the news in a video released on Monday evening, Martin said: “When I bought The Buttermarket in 2012, I had a very clear vision - to bring this incredible historic building back to life and establish it as Shropshire’s biggest independent live music and events venue.

“After investing over £2 million and seeing how far the venue has come, particularly over the last few years, I genuinely believe we’ve achieved that vision in abundance.

“But I’ve also always known that there would come a time when I needed to hand over the baton - not simply to somebody who wanted to own The Buttermarket, but to a younger, vibrant and ambitious team capable of taking everything we’ve created and making it even bigger and better.

“I’m absolutely thrilled to say that in 2027, that time will have arrived.”

Martin said the incoming owners form part of a larger independent group, providing The Buttermarket with the resources and expertise to secure its future for many years to come.

He added: “This isn’t about changing everything people love about The Buttermarket. It’s about protecting what we’ve created while giving the venue the opportunity to grow to another level.

“The Buttermarket has been a huge part of my life, so deciding who should take it forward was incredibly important to me. I’m genuinely excited about what comes next.

“This certainly isn’t the end of The Buttermarket story. I actually think its most exciting chapter could be about to begin.”

Martin also confirmed that The Buttermarket’s existing management and front-of-house team will remain in place, providing continuity for customers, performers and promoters.

He also reassured customers that all tickets and bookings already made for 2027 will remain valid, with the venue’s programme of events continuing throughout the transition and beyond.

The identity of The Buttermarket’s new owners, together with further details about their plans for the venue, will be announced on Wednesday 21 October.