The council has confirmed the company first in line to take over Watford's Colosseum.
At a meeting on Monday, March 13, Watford Borough Council leaders selected AEG, which runs The O2 and the Hammersmith Apollo, as their preferred operator for the town centre venue after a refurbishment worth more than £12.4million.
The Colosseum was used to record the scores of The Sound of Music, Star Wars and Lord of the Rings.
The town’s mayor Peter Taylor said he is looking forward to opening a modern live arts venue in 2024, and he told Watford Borough Council’s cabinet the move would support the region’s night-time economy.
“The decision on The Colosseum is one which we have worked hard on to ‘get it right’ to secure the best future for one of Watford’s most important cultural and heritage assets,” the mayor said.
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“[AEG’s] interest in running The Colosseum is a big vote of confidence in Watford and represents a multimillion pound investment in the town.
“It will bring of course many jobs, and will be a benefit not just to those who work at The Colosseum but also the bars, restaurant and shops in the town.”
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The mayor said he believes AEG will be able to “put The Colosseum on the map”.
The leader of the opposition, Labour councillor Nigel Bell, said: “This is exciting news.
“The Colosseum is one of the jewels in our crown.
“The acoustics have been admired by filmmakers and studios, so it would be great to get that back.”
The council has selected AEG after a competitive tender process, and Parkwood – which runs theatres in Crawley, Maidstone, Wellingborough and Weston-Super-Mare – held in reserve if a contract cannot be finally signed off.
Running the venue will be part-funded through developer contributions – to the tune of £1.2m.
The refurbishment is part of a £24.8m investment into the Town Hall Quarter.
Decarbonisation efforts at the Grade II-listed Town Hall – including refurbished windows, heating systems and lighting – are set to save the council around £300,000 each year.
Borough leaders agreed both The Colosseum and Watford Town Hall will be “inclusive and accessible” spaces for community groups once refurbishments are complete.
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