MOVES to create a new theatre for Chester, in the city’s former Odeon theatre, have moved a step closer.
Last week, it was revealed Amion – Liverpool-based specialists in economic development and regeneration – had concluded that the city centre cinema building offered better value for money for the project.
Now the ruling executive of Cheshire West and Chester Council has recommended this site be used for the £43m scheme.
The vacant art deco building was bought by the council earlier this year, but remained in competition with the Little Roodee as the site for the theatre.
Amion’s 48-page report reviewed the costs, benefits, value for money and risks associated with each of the council’s two preferred locations for the long-awaited venue.
Amion estimate the development would cost in the region of £56.76m for the Little Roodee and £42.975m for the Odeon.
Both are said to offer “broadly similar” benefits – such as 133 full-time equivalent jobs and £4.1m in gross value added – and both also are forecast to have an annual operating deficit of £933,000.
The report said: “Based on the available evidence, the Odeon site is assessed to be the best option – offering better value for money than the Little Roodee, in particular due to its lower costs, and having a significantly lower risk profile, making it more deliverable.”
The plan will be put to a meeting of the full council of Cheshire West and Chester on Thursday.
