Law firm plays starring role in theatre’s future

The players involved in the theatre's lease deal

A Coventry theatre has secured its long-term future after concluding a new lease deal.

The Albany Theatre on Butts Road has signed a 25-year lease with the option of a further 25 years to occupy its existing building.

As part of the agreement, it will also take on an additional 1,000m² of adjoining space.

The new space has been acquired to support the theatre’s Arts for Life agenda, which aims to promote wellbeing through the arts in partnership with other organisations.

As preliminary refurbishment work starts on the new space and other areas of the theatre, a consultation is currently taking place offering the public and stakeholders the opportunity to put forward ideas.

A performance studio, bar and café, box office and flexible space for socialising and working form the basis of the plans with other space available for multi-purpose use. Suggestions already include dance space as well as opportunities for digital arts.

The Albany Theatre, which is run by registered charity – The Albany Theatre Trust, was advised on the lease deal by Coventry law firm, Band Hatton Button. The deal sees Coventry City Council act as a guarantor for the charity for the first 25 years.

The deal comes as the number of events and visitors to the theatre are on the rise. 143 events were held at the venue last year, up from 55 in 2013/14, while audiences have doubled over the same period.

David Meredith, chairman and chief executive of the Albany Theatre Trust, said the theatre had been running for four-and-a-half years without a lease so he was delighted with the new agreement.

He said: “Without taking on the new space we could not have secured a lease to save the theatre, and we could not have done it without the support of Coventry City Council.”

Nick Button, Head of Commercial Property at Band Hatton Button, added: “The Albany is one of Coventry’s cultural gems and we are thrilled to have struck a deal that gives it a chance to grow in the future which is fitting as the city bids to become UK City of Culture in 2021.”

Pictured from left: Nick Button (Band Hatton Button); Cllr John Mutton; Brian Harrabin (Harrabin Construction); Laurence Moore (Prime Accountancy Group); Andrew Roberts (Robothams Architects); Claudette Bryanston (Albany Theatre).

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