Iconic Northampton bar and music venue advertised for sale after 'difficult summer'
The future of an iconic Northampton bar and music venue has been thrown further into question as it has now been advertised for sale.
The Picturedrome, in Kettering Road, has been put on the market as a leasehold pub and late-night venue, just two weeks after the business announced it could no longer continue in its current format.
An advert by property agents Fleurets describes the venue as an ‘iconic live music venue, bar and restaurant’, with capacity for around 500 to 550 customers.
The property is being marketed on a leasehold basis, with offers invited rather than a fixed asking price.
The listing says the venue has net income in the region of £1.2m per year and features an acoustically enhanced music area.
The advert comes after the Picturedrome announced on September 1 that it would cancel all planned events and hires at the venue from September 28.
At the time, the owners said: “After what has been an incredibly long and difficult summer, with ticket sales and attendance at events at an all-time low, business has remained extremely slow.
“Unfortunately, the level of trade we are now experiencing, combined with the ever-increasing costs of operating the venue, have made it impossible for us to continue running The Picturedrome in its current format and for the current structure to remain financially viable.
“We are absolutely devastated by the situation we find ourselves in. This is not a decision we have taken lightly, and after so many years of incredible events, fantastic nights and memories, it is incredibly difficult to have reached this point.”
Customers who had bought tickets for Picturedrome-run events taking place after September 28 were told they would receive an automatic refund.
The venue said: “We sincerely hope that, wherever possible, these events can be moved to another venue nearby, allowing customers to still attend the shows they have been looking forward to. Promoters will provide further information regarding their individual events as soon as arrangements have been made.”
It added: “This is an incredibly sad moment for all of us. The Picturedrome has been much more than just a business to us. It has been a place where people have met, celebrated, danced, watched incredible artists, and made memories together.
“We are working on a different business model for the venue and will share more information about its future when we are able to do so.
“We would like to say thank you to every customer who has attended an event, artists, DJs, promoters, & engineers.”
The Picturedrome's owners have been contacted for comment on the listing and the future of the venue.