G Live Figures To Be Released In November

Published on: 1 Oct, 2012
Updated on: 12 Oct, 2012

G Live represents a £25m investment of local taxpayers’ money – Photo John Schluter

Figures showing the financial performance of G Live, the year old entertainment venue in Guildford into which Guildford Borough Council invested £25m, will be published in November according to Cllr Jen Powell, Lead Councillor for Culture and Leisure.

She said: “Guildford Borough Council went through a procurement process and as a result appointed HQ theatres to run G Live on the Council’s behalf. The Council pays HQ Theatres a management fee to run G Live which equates to £2.39 per head of population per annum. This amount is not subject to an inflationary increase.

“The operator collects all the income from events they promote at G Live. We have a profit share agreement should aggregate income exceed the estimate.

“G Live opened in September last year and the first year of operation finishes on the 30 September. HQ Theatres will then provide the Council with an annual report which will set out details of G Live’s first year performance. The annual report will be presented to the Corporate Improvement Scrutiny Meeting on 29 November and the Executive on 6 December”.