A delegated decision report has been released from the Isle of Wight council this afternoon, recommending that the sale of Ryde Theatre is approved for the princely sum of £300,000.
This is £100,000 less than the deal that fell through back in November 2012 between the IWC and The Thompsons.
Continuing to run the theatre indefinitely
The purchaser has confirmed that, “we will be continuing to run the theatre indefinitely and it will be available to be used and booked for other events.”
It also confirmed in the report that “the public toilets could remain open provided that there were managed by the Council”.
Read the report
Many will question whether this council asset should be disposed of for such a small sum.
Full details are in the report below.