Peterborough City Council is set to provide financial compensation to Landmark Theatres due to disruptions caused by essential roof replacement works at the Key Theatre. The ongoing capital works, prompted by the discovery of Reinforced Autoclaved Aerated Concrete (RAAC), have extended the theatre’s closure and impacted scheduled performances, including the 2025 pantomime.
Pantomime Relocated to New Theatre
To ensure continuity of Peterborough’s cultural programme, the pantomime will be moved to the New Theatre. Landmark Theatres will manage the transition, covering logistics, stakeholder engagement, and operational adjustments. The compensation payment will offset income losses and cover additional costs arising from this relocation.
Funding from Reserves
The payment will be drawn from the council’s reserves, currently just under £18.3 million, with £4.2 million ringfenced for specific purposes. Local government finances nationally are under significant strain, with many councils holding large deficits. Despite this, the council is taking steps to protect key cultural assets while responsibly managing financial risk.
Supporting Cultural and Community Priorities
The payment ensures the sustainability of theatre operations, protects the city’s cultural offerings, and maintains public confidence in Peterborough’s arts programme. Cabinet approval is sought to authorize the payment and delegate implementation to senior council officers, guaranteeing timely support for Landmark Theatres.
Managing Risk and Preserving Assets
Without this compensation, there is a risk that Landmark Theatres could relinquish the lease, leaving the council to manage a complex cultural asset without the necessary expertise.
