Derby: Financial concerns over £24m theatre restoration

Plans to restore a historic theatre in Derby have been approved despite financial concerns.

Derby City Council approved a £24.55m project to restore the Guildhall Theatre in Market Place at a cabinet meeting on Wednesday.

The Grade ll-listed building has been disused since 2019 and could reopen by 2027.

Opposition councillors said there are "sketchy details" over the proposal's revenue costs.

However, these concerns were not discussed in the public session of Wednesday's meeting, according to the Local Democracy Reporting Service.

Work to restore the venue is expected to start next year, and the plan is to reopen it in winter 2027.

Restoration plans include a new foyer, cafe and a remodelled auditorium with a seating capacity of about 280.

Deputy leader Nadine Peatfield said the plans show the council's commitment to "investing in our cultural heart of the city".

Ms Peatfield added: "This isn't just about renovating the existing building; it's about making it into a better space and a better place for the people of Derby.

"We have no control over inflation at the local council level. That's always going to be a risk, and it has been in the past.

"We can only crack on with the plans that we have and hope that inflation comes down and we can bring it in on time and on budget."

Both projects are being made possible thanks to funding of £20m allocated to Derby from the Government's Levelling Up pot.

Half of this fund will go towards the Guildhall project, with £14.55m being contributed by the city council.

The other £10m from the government fund will go towards revamping Derby Theatre, owned by the University of Derby.

'Flawed' procedure

Conservative councillor Chris Poulter, chair of the executive scrutiny board, said: "When you look at what is proposed for the Guildhall - and there are sketchy details - it is suggesting business as normal, don't change it.

"What happened when it was in existence in the past? There was a considerable revenue cost to operating the Guildhall. It never paid for itself."

Mr Poulter told the BBC that the plan, in principle, is, "the right thing to do", adding "the Guildhall's sat there for too long empty, and the community culture in the city has suffered as a result".

However, he said Wednesday's procedure was "flawed".

"Obviously we don't want to lose the opportunity to get a grant of £20m into the city from the government," Mr Poulter said.

"But we have to make sure that we're able to afford to match funds that, in effect, put sufficient money into the Guildhall at a time where all councils are strapped for cash.

"At the meeting, the officers couldn't even explain the costs of the borrowing that was necessary to be able to do that."

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