Anonymous charity pledges £750k to save theatre

Save Novello Picture House has been campaigning to raise funds to save the theatre

An anonymous charity has pledged £750k to save a theatre.

Campaigners are currently in the process of trying to secure the future of Novello Theatre, formally The Picture House, in Ascot.

At a recent community meeting, attended by more than 120 people, it was confirmed a charity has stepped in hoping to help.

Save Novello Picture House wants to restore the theatre, linking it with neighbouring Cordes Hall, under a single charity.

The Picture House was built for the community in 1923

Renovations to the building are expected to cost up to £500,000, in addition to the purchase price.

The theatre in High Street was registered as an Asset of Community Value in April, giving local groups six months to raise funds before it could be offered on the open market.

The original estimate for the purchase and structural repairs was an estimated £750k, which the campaign group has said a local charity has "very generously, conditionally pledged".

Campaigners previously shared architect's drawings of how they anticipate the theatre will look after renovation

During the meeting it was explained this funding would mean the theatre building would be owned and maintained by the charity and rented back to the appeal group at a "very low annual rent for exclusive use as a theatre and community asset".

A group spokesperson said: "As you can understand, this is a significant sum of money to put forward and, in line with charity commission guidance, the charity in question is conducting the necessary due diligence on the processes and operations that underpin the donation before it can be completely finalised.

"This is a business and legal process which can take some time, but when all parties are confident that the background work is complete, we will be able to reveal their name and we can all publicly thank the charity in question."