Cost to restore Yeovil theatre
Octagon could cost £200,000 if multi-million plan falls through
Reopening the Octagon Theatre in Yeovil in its original form could cost up to £200,000 if a multi-million-pound regeneration plan falls through.
In October 2023, Somerset Council announced that it would be putting its £30m revamp of the Octagon Theatre on hold to reassess the business case in due to high inflation and interest rates.
The theatre has been closed since April 2023, with the council voting as part of its annual budget to keep the building shut until a new business case could be agreed.
The council is now pursuing a scaled-down redevelopment costing £15m – with the running of the building passing to Yeovil Town Council once it reopens in time for the 2026 pantomime season.
But if this ends up being abandoned, it will still cost a hefty six-figure sum to restore the venue to its original condition, following numerous structural surveys which were carried out following its closure.
The council’s executive committee met in Taunton to formally add the £15m regeneration plans into its capital programme for the next three years.
Under the new plans, the theatre will be refurbished at a cost of £15m – of which £10m will come from a ring-fenced grant provided by the Department for Culture, Media and Sport (DCMS).
A further £3.75m will be provided by Yeovil Town Council.
The remaining £1.25m will be sourced from external grants, contributions from housing developments and local fundraising.
The scaled-down project will still see a fly tower delivered, expanding the range of productions which could be staged at the venue, along with improvements to the auditorium, increased accessibility, a revamped front-of-house and catering facilities, better dressing rooms and some external landscaping.
Construction work is expected to begin by mid-2025, with a view to the theatre reopening in the autumn of 2026, in time to host the annual Christmas pantomime.
Once the theatre has reopened, it will be managed by Yeovil Town Council – meaning any running costs after the rebuilding will come out of its share of the council tax precept.
The executive committee’s decision comes after a joint bid from Somerset Council and Dorset Council to designate the theatre as a musical lead hub organisation from September 2024.
The decision by Arts Council England means the venue will receive around £1.46m from the Department for Education (DfE) for musical education, of which just under £1.1m can be spent on funding musical education across the two counties and around £360,000 can be spent on new musical instruments, equipment and technology.