The Stage

Trust queries latest RUG sale stories

Published Wednesday 26 January 2005 at 11:10 by Jeremy Austin

The Theatres Trust, freeholder of two of the Really Useful Group-operated theatres said to be on the verge of being sold, has not been informed of any interest in the venues.

Director Peter Longman questioned rumours that rapper Sean ‘P Diddy’ Combs is interested in buying one or all of the Garrick, Lyric, Duchess and Apollo, with a view to converting one into a nightclub. Westminster City Council planning rules make such a radical change of use unlikely, he insisted.

“We have not been approached directly or indirectly by anyone with a view of taking them over,” he said. “All these theatres are protected by Westminster City Council planning rules, which say ‘we value theatres and we would not give any planning consent for change of use’.” However, he added: “Really Useful Theatres has made no secret of the fact that these theatres are not part of the main business and if someone wanted to take them off them and had a sensible plan, I am sure they would be interested.”

Andrew Lloyd Webber has enlisted the services of former RUG chief executive turned financial consultant Patrick McKenna after an unsolicited inquiry about the group.

RUG - owned solely by Lloyd Webber - encompasses the rights to his musicals and has a 50% stake in Really Useful Theatres, the production and venue management wing. It was also revealed that there had been additional interest in the four drama houses owned or operated by RUT.

CCE has emerged as one of the most likely candidates for the RUG bid - it is a massive American multinational with the potential to raise the capital needed. Both organisations are refusing to comment.