A charity will be closing a theatre in North Shields as a new operator prepares to takeover the building.
The Exchange Theatre charity will stop operating from the Saville Exchange building from April 17 after it failed to reach an agreement with the building's owner North Tyneside Council.
The local authority said the theatre will reopen as with a new operator as part of "ambitious plans" to develop the town.
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The charity has been based at the building for the last seven years, with bosses saying they have welcomed hundreds of artists, singers, musicians and theatre companies for various productions, events and exhibitions.
Toby Bridges, chair of the board said: “We are proud to have created a place for people to feel positive and opened up the arts to be accessible rather than limited to one section of society.
“As schools move away from arts based subjects, we helped form a space that could fire imaginations and generate the creative spirit so necessary for all of our futures and particularly the future of work.”
Trustees are unsure at present of the future of The Exchange Theatre, however the board of trustees hope it will continue to provide arts and culture in some format.
John Sparkes, director of regeneration and economic development at North Tyneside Council, said: "The Exchange is central to delivering our ambitious plans to develop a vibrant 'Cultural Quarter' in North Shields, which will diversify and expand the town centre offer and drive footfall. We recently went to the market to identify an operator through an open tender process.
"Unfortunately, the current operator was not successful, and through the Council's Strategic Property Group a new operator has been identified as Stonebanks Investments.
"Stonebanks are prepared to invest significantly into the Grade II listed building and grow the cultural offer and support our wider ambitions for the town centre.
"Whilst the Exchange will close for a short period of three to four weeks from April 17, this will enable the new operator to carry out some investment into the interior of the building in advance of its re-opening.
"We understand that the new operator is working with the Exchange Theatre Charity to identify opportunities for existing staff to transfer across to the new operator.
"We'll be working closely with the new operator on the transfer of the building and look forward to seeing this cultural landmark flourish in the future."
The Exchange Theatre is organising a leaving party on April 15 with an open mic of spoken word, poetry and music in the café bar.
The charity will also be creating a digital scrapbook and archive with audio recordings, photographs and digital copies of memorabilia of your memories.
On April 17 there will be a sale of items including costumes, stage and technical equipment, furniture and art.
All proceeds will go towards continuing The Exchange’s aims and objectives to see the arts flourish in the North East.
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