01/10/2024
Since our last post about the lease for sale, we’ve had several inquiries about what happened to Magnet and where Hot Water Comedy Club is now, so we thought we’d provide some background.
When Hot Water Comedy Club purchased the lease for the former Magnet bar, we bought it directly from the previous Magnet owners. We believe the company behind Magnet then closed, meaning the name closed with it. However, based on our understanding, you might be able to use the Magnet name for any new venture, but you'd need to do your own research on that. The sale of the lease included this page, which is how we became the admins here.
At the time we purchased the lease, Hot Water had outgrown its Seel Street venue, and the basement on Hardman Street was perfect for us. Since then, we’ve expanded again and now operate from the brand-new Blackstock Market, where the comedy club spans multiple theatres with over 1,000 seats. We also host live music six nights a week, have Liverpool’s biggest food market, a whisky bar, cocktail bar, podcast studios, multiple breakout spaces, a high-spec function room, and Liverpool’s largest roof terrace.
As for Magnet, the venue remains largely the same, except for the main dance room, where we raised the floor as we couldn’t lower the ceiling for a more intimate atmosphere in the comedy club. The room’s height now matches the height of the old stage, which is still in place along with the original Magnet logo. All the work we’ve done can be reversed, so the space could easily return to something very similar to what it used to be.
We also purchased the lease for the ground-floor restaurant (a 120-cover, triple-fronted unit) just before Covid, and it’s also now for sale at £40k. This space is internally connected to the basement and could be a great option for potential new operators looking for an even bigger venue.
As former regulars of Magnet, we’d love to see it reopen in some capacity. There’s been a lot of interest in the unit since our last post, and we have a group viewing coming up, so we’ll keep you updated on what’s happening with the venue.
In the meantime, come check out the live music at Blackstock Market and keep supporting your local music venues.
If anybody else would like to come along to the viewing then please email on [email protected]