Central School of Ballet seeking £3m council loan to open new London premises
Southwark Council is considering loaning £3 million to Central School of Ballet to enable the company to open its new premises.
The ballet school originally hoped to move into a new purpose-built facility on London’s Southbank in September 2018, but this has now been delayed to 2019.
The premises were built in 2013 but have since remained unoccupied. The school signed a 70-year lease on the building in 2016 but has been unable to move into it because not enough money has yet been raised to fit it out.
Of the £9 million needed, the school has secured £5 million through fundraising.
A £3 million loan from Southwark Council would enable Central School of Ballet to fit out the concrete shell of the building, ready for use.
The loan proposal will be presented to Southwark Council’s cabinet, with a decision expected in June.
A spokeswoman for the council said: “The council is in discussions with the Central School of Ballet with regard to potential support it could provide to enable the opening of their school in Bankside.
“No formal decision has yet been made and a report is expected to be presented to the council’s cabinet this summer.”
Heidi Hall, director of Central School of Ballet, said: “Central School of Ballet has outgrown its current premises in Clerkenwell, its home for 35 years, and has plans to move to a new home in Southwark located at Paris Garden and Hatfields.
“The new building will become a hub for a dynamic dance community combining excellence in dance training for those aiming for a professional career alongside general dance classes and local London outreach projects.”
She added: “Central is in discussions with the London Borough of Southwark about a loan of £3 million to complete the fit out of the new premises.
“The discussions with the council about the opportunity of a loan will assist Central to make the building operational by September 2019.”
A Central spokeswoman stressed that the school is continuing to fundraise, and that any money from Southwark Council would still need to be paid back to the local authority.