Owner Of Academy Of Contemporary Music Wants to Lease Electric Theatre

Published on: 2 Oct, 2015
Updated on: 5 Oct, 2015

The Electric Theatre.

The Electric Theatre is on the wish list of the owner of the Academy of Contemporary Music (ACM), based next door in Rodboro Buildings, according to a report in yesterday’s Surrey Advertiser.

The owner, businessman Kainne Clements, who two years ago bought the ACM, shown online to be worth £5.4 million in 2014, is reported to have threatened that if he was unable to acquire a lease on the Electric Theatre he might move the academy to London.

Another of Mr Clements’ business interests is Metropolis recording studios in Chiswick where, according to Computer Weekly, half of the UK’s top 40 music chart is recorded, mixed and mastered.

The future of the Electric Theatre, like Guildford Museum, is in the hands of a working group led by Cllr Geoff Davis (Con, Holy Trinity), a Guildford Borough Council (GBC) press release has confirmed.

The release, following an earlier report in The Guildford Dragon NEWS this week, stated: “We have a working group of officers and councillors, along with an independent theatre consultant, to assess the future of the Electric Theatre.

Key areas the working group will look into include a future operating model for the theatre and its financial situation. The review comes against a background of tightened council budgets and the need to find savings of £5.5 million.

Extract from a Guildford Borough Council paper dated June 16 2015 showing the group’s name as Electric Theatre and Yvonne Arnaud Theatre Working Group.

The working group has been in place since January 2015 following a scrutiny committee recommendation. Geoff Davis has been the group’s chairman since August. Its original name was the Electric Theatre and Yvonne Arnaud Theatre Working Group but the “Yvonne Arnaud Theatre” (YAT) element appears to have been suddenly dropped.

The Yvonne Arnaud Theatre.

Within the conclusion of GBC’s June report it is stated: “A separate review of the Electric Theatre and wider performing arts venues in Guildford has recommended that the council determines the outcomes it expects the YAT to achieve in exchange for continued grant support. This should be included within the remit for the working group review of the Electric Theatre and the wider performing arts venues in Guildford.”

Cllr Geoff Davis.

However, in a response from Cllr Davis, the lead councillor for economic development, heritage and tourism, from a question posed to him by The Dragon, he recently denied that the theatre group was looking at the Yvonne Arnaud, which receives a subsidy of more than £300,000 from the council, as part of the review he oversees.

He emailed: “We do have a cross party group considering the Electric (not YA) [Yvonne Arnaud Theatre] due to financial matters…..”

Cllr Davis stated: “The working group is reviewing the Electric Theatre, its financial situation and assessing various proposals for its future. Proposals include considering new ways to utilise the site more effectively, and maximise commercial opportunities.

“This is one of a number of reviews taking place across the council as we are facing an increasingly challenging financial climate and need to identify savings of £5.5 million over the next four years. We will provide updates on progress and are committed to conducting a full, thorough and fair review.”

At the GBC Executive meeting on Tuesday (September 29) the council leader, Stephen Mansbridge (Con, Ash South & Tongham) said that it was necessary to “sweat” the council’s assets to achieve the savings required.