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New London Theatre for sale - RSC not a bidder

Published Wednesday 23 January 2008 at 12:25 by Alistair Smith

Exclusive: The Royal Shakespeare Company has ruled itself out of the running to buy the lease on the New London Theatre on Drury Lane, after Andrew Lloyd Webber’s Really Useful Group put the venue up for sale.

Currently hosting the RSC’s productions of King Lear and The Seagull starring Ian McKellen, the Stratford-upon-Avon-based company had been linked with the venue as a potential site for a new London home, after pulling out of the Barbican Centre in 2002.

But according to a spokesperson for the company, it is “not in a position to buy anything at the moment” because it is focussing on the redevelopment of the Royal Shakespeare Theatre in Stratford, which is costing in excess of £100 million.

The New London, which was the long-term home of Lloyd Webber’s hit musical Cats, is, at 1,100 seats, Really Useful’s smallest venue and last remaining playhouse, after it sold the Garrick, Apollo, Duchess and Lyric to Nimax Theatres in 2005.

Built in 1973, the venue is unusual among West End theatres in that it has a thrust stage.

It recently also hosted Stage Entertainment’s production of Blue Man Group.

A RUG spokesman confirmed the company was looking to sell the 101-year lease on the venue and told The Stage: “The venue is much more suited to plays and RUG is looking to focus on its musical theatre houses.”

The sale is being overseen by Drivers Jonas, which also advised Lloyd Webber on the Nimax sale. A closed bidding process will commence at the end of this month and it is understood there are a number of organisations which have already expressed interest in the site.

While the theatre is not listed and is therefore eligible for redevelopment, it would have to retain a theatre unless approval was granted for a change of use by Camden council, which it is understood would be unlikely.

However, the site could be converted for additional use as a TV studio, or could be expanded for commercial uses as long as it retains its theatre.

The announcement comes soon after Really Useful completed the sale of its ticketing arm, See Tickets, to Stage Entertainment subsidiary Stage Ticketing.

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