Jazz lovers have been asked to help raise up to £125,000 to create a co-operatively owned music venue.

A group of local residents, jazz enthusiasts and musicians wants to buy and refurbish The Globe, a former 19th century pub in Newcastle, which is being sold.

The Pink Lane Jazz Co-op hopes people will invest a minimum of £200 to help with the venture.

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Dave Parker, a founder member of the co-operative group, said: ''We have a long-term vision of establishing The Globe as the place in Newcastle to go to hear live jazz and other music that is outside the mainstream.''

Michael Fairclough of the Co-operative Group, which is offering help, said: ''The UK is witnessing significant increases in community and co-operatively owned enterprises, people participating in and bringing about the changes they want to see in their community.''