Community-run Ryde Arena ice rink loses its lease

Ryde Arena is home to trainee figure-skaters as well as a National League ice hockey team

The Isle of Wight's only ice rink has lost its lease, 18 months after being rescued by a community group.

Operator Ryde Arena Ltd has been told it owes about £200,000 in rent arrears.

The group said it had been trying to negotiate a reduced rent to compensate for unrepaired storm damage, which had left it unable to run a bar and cafe.

The site owner AEW UK, which sent in bailiffs on Thursday, said the rink was not financially viable and the lease had been terminated.

The community group held a fundraising campaign in 2015 to save the rink from closure

Ryde Arena Ltd took over the loss-making rink in April 2015 following a campaign which raised thousands of pounds in donations.

It signed a 35-year lease and agreed to pay a rent of £130,000 a year to AEW UK, which employs Bank of New York Mellon to regulate its investment.

Arena chairman Ian Jenkins said the group had so far paid about £20,000.

In November 2015, part of the seafront building's roof was ripped off in a storm.

'David and Goliath'

Mr Jenkins said the leaseholders repaired the roof but failed to refurbish part of the water-damaged interior, costing his firm £100,000 in lost income from the bar, cafe and offices.

He said: "It's a David and Goliath situation."

Rachel McIsaac, head of asset management for AEW UK, said: "I have bent over backwards for two years trying to help these people. It is not a financially sustainable operation."

She was unable to say whether the ice rink would close for good.

Ms McIsaac said the Wightlink Raiders ice hockey team, which is based at the Arena, would be allowed to collect equipment from the building on Monday.

The team said it would miss two matches this weekend.

The arena freeholder, Isle of Wight Council, said it was "not party to the dispute" and was unable to make a statement.