Up to 60 jobs will be created as part of a £1 million relaunch of Shrewsbury’s Buttermarket nightclub, it was today revealed.

Businessman Martin Monahan today sealed a deal for the nightclub in Howard Street after the club was put on the market in March 2011 when it fell into receivership. Agents Towler Shaw Roberts confirmed a deal close to the asking price of £325,000 had been agreed.

Mr Monahan said more than £1 million would be invested to fully reopen the venue by September.

The Cellars part of the nightclub will open in April and bosses aim to bring some of the country’s biggest music acts back to Shrewsbury. The venue, with a total capacity of about 1,800, has previously hosted acts such as Kasabian, Calvin Harris and the Kooks.

Mr Monahan, who owns The Peach Tree Restaurant, C:21Nightclub, and Spirit Champagne Bar and Nightclub in Abbey Foregate, Shrewsbury, said it would provide a ‘massive boost’ to that part of the town centre.

He said: “I’m very excited about taking over The Buttermarket and returning it to its rightful place as Shrewsbury’s premier entertainment venue.

“It’s going to be a huge challenge but one that my team are certainly looking forward to meeting head-on.

“Once completely operational, the venue will provide around 60 new full and part-time jobs in the town.

“The Buttermarket has played a significant role in bringing a wide range of live music to Shrewsbury in the past, and this is certainly going to be a main focus in the future too.

“We are looking to work with various music promoters to bring some big name acts to the stage once again in Shrewsbury.”

Mr Monahan said they would be looking to reveal full refurbishment plans in the next couple of weeks.

He added: “We’ve got some amazing ideas and plans, which we hope to finalise very soon. I have no doubt that we will, with the support of

Shropshire’s general public, put The Buttermarket back on the map as a major multi-purpose entertainment venue for the whole of the county.”

The venue, which is almost 19,000 sq ft in size, got a flood of inquiries from buyers after its asking price of £385,000 was slashed.

See also:

• Shrewsbury Buttermarket asking price slashed
• Blog: My Buttermarket nights…
• Shrewsbury nightclub for sale – Wurlitzer included