Sadness reached the meeting of Ventnorians tonight when they heard that The Gaiety had been boarded up, ready for its sale.
Russell, the manager, told the assembled 45 business people and shop owners that he’d tried to make the business work for 2.5 years, but the returns from the business weren’t significant enough.
Equipment has been gradually removed from there over the past week.
VentnorBlog has, in the past, learnt from a source close to the owners that the Gaiety site itself has been valued at over £3m by property developers.
It’s understood that the site will remain boarded up until it is sold. It’s likely that this will extend into or past the summer, creating a terrible impression for visiting tourists at our precious seafront.
Obviously a site that large would be very tempting to a property developer, so it looks like there could be a fight ahead for those who don’t want the centre of the Esplanade dominated by a new block of flats.
