An “ambitious” project for a major new £73m events centre in a Sefton seaside town has been given government approval.
Plans for the Marine Lake Events Centre on the site of the former Southport Theatre were described as “a really ambitious and impressive local project” which could “revitalise” the fortunes of the town by Levelling Up minister Dehenna Davison.
The comments were made as a business case for the project was approved by the Department for Levelling Up, Housing and Communities following a £33m investment in the town as part of the Southport Town Deal.
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Mrs Davison said it was the “biggest pay out to any Towns Fund project, recognising its huge potential to deliver hundreds of new jobs and attract more than 300,000 visitors to Southport.”
Plans for the start of the art events centre with 1,500 capacity theatre as well as exhibition and conference facilities and water and light show have also attracted nearly £20m of combined authority funding.
The council are looking at options for a further £20m needed for the project, with approval granted earlier this year to borrow the sum, which could come from the Public Loan Works board.
The plan is for the centre to bring in half a million visitors a year to the town, with hopes of generating £18m a year for the local economy.
Earlier this year, the council announced it had chosen a venue management company, ASM global to partner with it on the project and has been busy selling off fixtures and fittings of the former theatre as part of ongoing demolition works.
The council will be subsiding the centre once it has opened to the tune of £400,000 a year, although depending on the success of the venue may also receive revenue payments from AMS Global.
A cabinet report released earlier this year including the business plan for the centre states that a fixed rent will be paid by AMS Global for the 25 year duration of the contract, and if the centre makes a loss, this would be “picked up by the operator.”
Sefton Council’s cabinet member for regeneration and skills, Cllr Marion Atkinson said the events centre was a “hugely exciting and important scheme” for the borough.
Thanking council staff for their “huge efforts” Cllr Atkinson added that the centre had reached another “important milestone” for the “game changing” project.
The next stage is for the council to secure planning approval for the project.
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