A £73m events centre in Southport has moved a step closer as Sefton Council announced it has chosen a development partner for the scheme.
Management company AMS Global, which runs hundreds of venues across the world, has been chosen as operator for the Marine Lake Events Centre. It will also oversee the "UK’s first light, water and sound show" called the Light Fantastic which will be held at the venue - set to seat up to 1,500 people - to be built on the site of the former Southport theatre.
In order to cover the scheme's costs which are being part funded by over £30m of Town Deal money and around £20m of Liverpool City Region funding, Sefton Council looks set to borrow nearly £20m to move the project forward.
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The loan, which could come from the Public Works Loan Board, would be repaid at a cost of almost £1m a year over the next 40 years, according to a report produced ahead of a meeting of Sefton Council's cabinet next week.
Sefton Council is also in discussion with public funding bodies, such as the Arts Council, in the hopes of seeking further funding sources.
Once the venue is completed, the council is set to subsidise the running of it to the tune of around £400,000 a year, although depending on the success of the venue may also receive revenue payments from AMS Global. The cabinet report states that a fixed rent will be paid by AMS Global for the 25 year duration of the contract, and if the centre makes a loss, this would be "picked up by the operator."
The Marine Lake Events Centre (MLEC) and Light Fantastic are a flagship part of Southport's town deal, which received over £35m of government funding for a series of projects to revitalise the resort town.
A detailed planning application and business case for the project has already been submitted and investigatory works are currently being carried out on the existing Southport theatre and upper promenade.
Speaking of the appointment of ASM Global, Sefton Council's cabinet member for regeneration and skills, Cllr Marion Atkinson said: “By awarding preferred bidder status to ASM Global we are once again showing our ambition, determination and passion towards delivering the incredible MLEC project.
“We are doing everything to ensure the end goal is a fully flexible, scalable cultural space capable of staging concerts, stand-up comedy, family shows, musical theatre, conferences, exhibitions that is the envy of other towns and cities.
“ASM Global operate 350 venues across five continents and share in the ambitions of Sefton Council and the Southport Town Deal in making MLEC a soaring success. Our borough, our town and the council will benefit from the wealth of experience and knowledge the team at ASM Global can bring to the table."
ASM Global also operates 12 venues across the UK include a seaside theatre at Whitley Bay, the Olympia London exhibition centre and Manchester's AO Arena.
Cllr Atkinson said the MLEC and Light Fantastic could generate half a million visitors each year, bringing in £18m for the local economy.
She added: "I am delighted that Sefton Council is once again leading the way in exciting projects like this.”
Executive vice president of ASM European Chris Bray said: "Southport has a rich history of events and culture and we are pleased to engage in this long-term partnership and what’s set to be a visionary and game-changing project for Southport and the Sefton region
“The combination of a high quality, flexible venue and the Light Fantastic is a unique offer, in a stunning location, which will create an outstanding leisure, events and cultural destination for both residents and visitors.
"There has already been excellent progress in securing funding, developing the initial designs and submitting the planning application, and we are excited to now join the project team and share our wealth of experience of designing, developing and relaunching venues.”
“We look forward to delivering a busy concert and entertainment programme alongside a wide range of conference and business events that will provide a great meeting place and platform for the region.”
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