Cabinet member for Economy, George Brown, has approved the sale of Ryde Theatre for £300,000 under delegated powers.
Readers will remember the Delegated Decision report last week recommended the sale of the venue for £100,000 less than the figure offered by the previous bidder. That sale fell through in November last year.
Those concerned the venue may be converted into residential accommodation, 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.”
No further details on the buyer have been released.