Subscription Rooms – Transfer to Stroud Town Council
Published: Wednesday, 5 September, 2018
Stroud District Council has served a notice of intended disposal of the Subscription Rooms in Stroud as part of the process of transferring the entertainment facility to Stroud Town Council.
Stroud Town Council have made a proposal to create a trust to run the venue. The negotiations include a £230,000 one-off grant towards operating costs for 2019/20, up to £125,000 for roof repairs and £20,000 worth of fixtures and fittings. It is expected that the town council will contribute £50,000 of working capital and cover insurance costs.
Contracts should be exchanged by the end of September, and the transfer completed by the end of March 2019. As the original notice of intended disposal expired on August 31 a further notice has been submitted to cover the period until the transfer is complete. A public notice to this effect is expected to appear in local media today.
The transfer means that the Subscription Rooms will remain in public ownership while allowing the district council to save around £230,000 from its 2020/21 operating budget.