NEWPORT’S iconic rock venue TJ's sold at auction yesterday for £242,000.
Cardiff man Ozzeer Hassan, 23, bought the Clarence Place property at the packed event, which took place at Park Inn Hotel, Cardiff.
Mr Hassan said he was buying it along with his father Mehmood and plans to turn the property into an eatery with a residential space upstairs.
He added: “We want to preserve the TJ's image.”
The club, which was the beating heart of Newport’s music scene for many years, closed last year after the death of its owner John Sicolo.
It is reputedly the spot where tragic Nirvana rocker Kurt Cobain proposed marriage to songster Courtney Love after her performance there with her band Hole.
Newport-based Paul Fosh Auctions had put the club under auction at a guide price of £175,000 but bidding started at £160,000.
With a number of interested bidders, the selling price continued to rise in front of an anxious audience until Mr Hassan put in the winning bid.
Paul Fosh, managing director of the auctioneers, said he was pleased with the selling price.