Plans to convert a brewery in Dorset into a theatre have been cancelled, due to a lack of funding.
The Maltings in Dorchester town was to be repurposed as a flexible 450-seat venue, with a 100-capacity studio, cafe and annexe.
At the time of planning, arts consultants projected the new venue would boost the local economy by £4.6 million a year, and be accessible to more than 220,000 people.
However, the Maltings Arts charitable trust – which had been due to operate the venue – said it was unable to raise the £12.5 million needed to regenerate the brewery.
The trust’s chair Louise Sheaves said: “We and many other organisations and individuals have put a huge amount of effort into the planning, promotion and fundraising efforts for the Maltings.
“Sadly circumstances have conspired against us and the funding cannot be found.”
Dorchester Arts and the Maltings Arts charitable trust had been working with architect Haworth Tompkins, theatre design specialist Charcoalblue and arts consultancy ArtReach to create a financially viable venue.
Artistic director of Dorchester Arts Mark Tattersall said: “Having spent the past eight years trying to find a way to make the Maltings a reality, I am, of course, bitterly disappointed, but this is the right decision under the circumstances.
“Dorchester Arts remains committed to providing significantly improved arts facilities in the county town and will continue to work hard to achieve that aim.”