New deal for theatre

By Ross Findon

Wednesday, January 23, 2013

 

New deal for theatre

Ryde Theatre, which is to be sold by the Isle of Wight Council.

A NEW deal to sell Ryde Theatre could be signed within weeks.

In a delegated decision report published by the Isle of Wight Council today (Wednesday), it was revealed that the Grade II listed building could be sold for £300,000.

That would be £100,000 less than what the council had agreed in a previous deal, which collapsed in November.

After the deal fell through, the Isle of Wight Council went back to other bidders.

According to the latest report, if the delegated decision is taken by Cllr George Brown to pursue the new deal, it could be completed by March 31.

Local councillors were briefed ahead of the report being published.

The report said the council had not consulted locally due to the tight timescales and the similarity between the latest proposal and the previous one.

Under the deal, the council will retain ownership of the war memorial on a 999 year lease.

The CCTV hub for Ryde, located in the building, will be leased to the council for £100 a year for a maximum term of 27 months and the public toilets will be leased to the authority on a 999 ground lease at £200 a year.

Reporter: ross.findon@iwcp.co.uk

Comments

Log-in or register to comment on this story. See our House Rules here.

By ticking "Remember me" you agree to a cookie being stored on your computer - no personal data is shared.

Forgotten your password?

Any views or opinions presented in the comments above are solely those of the author and do not represent those of the Isle of Wight County Press.

Most Read

  1. Electricity depot fire

    Tuesday, January 27, 2015

  2. Isle of Wight Green Party launches campaign

    Tuesday, January 27, 2015

  3. Green light for major Island Roads traffic lights project

    Tuesday, January 27, 2015

  4. Home plan approved for former public toilets

    Wednesday, January 28, 2015

  5. Pearl Izumi cycle race heads to the Isle of Wight

    Wednesday, January 28, 2015

View our Elgin Traffic & Travel Map
Travel News Sponsor