Council offered Riverside Theatre lease

Ulster University has offered Causeway Coast and Glens Council a deal to takeover Coleraine's Riverside Theatre.

However, if a lease agreement is struck, ratepayers would be facing a £0.745m repair bill, annual operating costs of almost £0.5m and likely “further substantial costs”.

The offer is contained in a letter from University Provost Cathy Gormley-Heenan in response to fears expressed by elected representatives over the theatre's future.

News of correspondence to council officials was revealed by the Alliance Party's Yvonne Boyle on Tuesday evening.

She'd been due to table a notice of motion asking councillors to declare the Riverside an “valuable cultural asset” and urgently seek clarity on the university's position.

Her motion was prompted by the Vice Chancellors refusal, earlier this year, to provide elected members with a assurances over the venues continued operation

Professor Paul Bartholomew said it required significant investment and university authorities were conducting a review.

Instead of leading the debate on Tuesday, Alderman Boyle postponed her motion, telling councillors a “recently received letter from University” had kick-started dialogue which she hoped would focus on keeping the Riverside Theatre open.

The letter has since been distributed to elected members and a copy has been seen by the Chronicle.

The Provost writes: “We have noted that a number of councillors are emphasising, on a number of platforms, the theatre's importance to the local community.

“For these reasons we wanted to give the council the opportunity to have the inclusion for a CCGC leaseholder arrangement as a strategic option for our onward consideration.”

The Provost acknowledges the Riverside operates at “a significant loss”.

She also reminds the council of the need for “necessary capital infrastructure improvement works” to ensure the venue meets current health and safety standards.

Any deal would require ratepayers to stump up £745,000 immediately and a further £495,000 per annum in operating costs.

The Provost continues: “It is important to be clear that that there are likely to be further substantial costs incurred on an ongoing basis as the building is now at the end of life stage.

“As leaseholder, CCGC would become responsible for keeping the building in good and tenable condition throughout the term of any lease agreed and return it in this condition at the end of the agreed term”.