No new theatre for Exeter

£62 million cost is too high

Exeter won’t be getting a new major theatre – and least in the near future.

Councillors have yet to formally bury the plans, but with the eye-watering costs of going ahead with a scheme now much clearer, they will almost certainly do so when they consider a new report.

Last year, the city council announced plans for a 1,200 seater performance space as part of a major redevelopment of Sidwell Street and Paris Street called City Point that would include a new four-star hotel opposite John Lewis, a budget hotel, new city-centre housing without student accommodation, and the relocation of the civic centre. The theatre would have been multi-purpose, being adaptable so it could take large-scale concerts with a standing audience capacity of 2,500 people. 

Whilst most aspects of that scheme such as the hotels and housing are still being worked on, the theatre element is all but now ruled out. Preliminary work shows that it would cost more than £60 million to build a venue capable of taking on other regional theatre such as Plymouth’s Theatre Royal.

An alternative – to redesign Exeter’s Corn Exchange and extend its capacity to a 1,000 venue, or 1,200 people standing – is up in the air. Councillors may think a bit more about it, but it would cost £30 million, and shut the complex for five years.

The council director in charge, Jon-Paul Hedge, has prepared a detailed report for councillors in which he says the local authority remains committed to investment in the arts and culture sector. However, he warns that such high costs are unaffordable for the city or traditional grant-giving bodies and that even if they could raise some money: “it would fall short of many public perceptions of delivering a venue to rival the likes of the Theatre Royal in Plymouth.” The only hope would be private-sector money, but only if companies decide there’s a business opportunity. 

The council commissioned specialists to assess what a performance venue would be suitable, as well as the cost. Views differed on whether Exeter could compete successfully with other regional theatres, but they did agree that, should it go ahead, it must be a multi-purpose venue. That meant a ‘fly-tower’ would be needed for major theatre productions that have sophisticate scenery changes. That’s not only costly, but for three-quarters of the year, it would be redundant. The total scheme came in at £62 million at CityPoint and £30 million to convert the Corn Exchange. Those plans – which at this cost are almost certainly hypothetical – would involve the Corn Exchange’s auditorium being located on the ground floor, with a new café space fronting onto Fore Street and would lead to a “significant regenerative effect” for that area. 

If councillors want to look further into that prospect, further planning work would cost £200,000, which would allow the council to talk to other parties “with the benefit of more definite plans.” Progressing to a concept design stage would add another £300,000 to the investigative bill.

Mr Hedge is recommending councillors note the report finds a “low-likelihood” of externally funding the £62 million for CityPoint’s multi-purpose venue, to note the opportunity around the Corn Exchange and “to note the progress regarding a privately funded commercial theatre, and that any future positive developments be brought back to the council.”