The charity said it would act as a landlord “that shares and supports the ambition to bring music to its local community”.
Following the purchase, The Ferret’s operators have signed a “cultural lease” that guarantees the use of the building as long as it continues to operate as a community music venue, it said.
A commemorative plaque will be unveiled later to mark the purchase of the site, which originally opened as The Mad Ferret in 2006 and became a cornerstone of the University of Central Lancashire’s student quarter.
MVT said the purchase of The Ferret followed the acquisition in October 2023 of The Snug in Atherton, Greater Manchester, and a further seven venues across the country had been identified for purchase.
