CIPFA North West The Guild Hall, Preston

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Presentation transcript:

CIPFA North West The Guild Hall, Preston Mike Nuttall Local Service Partners

Guild Hall, Preston Preston Guild 1972 Concert Hall – capacity 2,700 Theatre – capacity 800 Shopping arcade – c20 units Bus Station Multi-storey car park

Guild Hall, Preston Nationally recognised venue Top acts Gateway into Preston Significant footfall

Guild Hall, Preston – fortunes change Competition from other venues Footfall reduction Shopping arcade – vacancies Major works required Council subsidy c£1.2m p.a. Risk appetite reduced

Guild Hall, Preston – what next? Mounting Council budget pressures High profile site Long term solution needed Mothball/demolish the venue being considered – 2013 Market the site – “last throw of the dice”

Guild Hall, Preston – a way forward Rigby Organisation proposal - local entrepreneur Leasehold (999 years) Oct 2014 Reinvigorate the venue Capital investment c£5m Compliment wider regeneration aspirations Remove the Council subsidy…..quickly

Guild Hall, Preston – rises from the ashes Rigby Organisation – determined to make an immediate/bold statement Venue facelift New “dining experiences” and bars opened Greater utilisation of space Increased/complimentary occupancy of retail units

Guild Hall, Preston

Guild Hall, Preston – achievements/next? Savings/investment delivered Investment continues…. Over 100 additional jobs created…..more to come Quality of shows/events on offer improved Prompted others to invest in surrounding facilities Creation of a multi-entertainment complex in large derelict retail unit Conference venue

Guild Hall, Preston – some reflections Partner selection crucial Pace of decision making It’s an ongoing relationship Managing risk Revenue generation Ability to respond to changing tastes

The Rigby Organisation

Local Service Partners – our offer to you Diverse and experienced team Discuss issues you may be facing Explore possible solutions Pragmatic and practical Ability to make things happen

Local Service Partners Mike Nuttall Executive Advisor Local Service Partners Mike.nuttall@localservicepartners.co.uk