Secret report reveals Odeon as ideal location for Chester’s new theatre

Aug 11 2011 Chester Chronicle

A SECRET report to councillors reveals the former Odeon cinema as the clear front runner to become Chester’s new theatre.

Cheshire West and Chester Council will decide in October whether to choose the Odeon or the Little Roodee car park site.

The council recently agreed to stump up £2.6m to buy the Odeon from the Brook Group but without making a decision over its end use, except that it will fulfil a cultural function.

However, a document debated in private at the full council gives a clue to the council’s thinking because funding for the acquisition will come from the Chester Theatre Capital Vision budget.

The restricted report says the Odeon is ‘a strong contender’ for the new theatre and this is the prime motivation behind the purchase.

It adds: “If the council determine that the theatre will be built on an alternative site or deferred for any reason there is a risk that it has secured a site for £2.6m without any end use.

“However, the site is a key, strategic site within the city and needs to be incorporated into the future redevelopment, hence the risk of not having a suitable end use for a city centre site is minimal.”

The report says an agreement in principle has been reached with Brook on a sale price of £2.6m with a further £104,000 payable in stamp duty land tax.

The council is awaiting the results of an independent valuation by DTZ but the price is described as representing a reasonable price and ‘value for money’ for the council taxpayer.

The report says failure to acquire the Odeon now could see the owners holding out for a purchase price of up to £1m more if the authority is forced down a compulsory purchase route.