RUG’s New London Theatre Up for Sale???

The Stage newspaper reported today that the Really Useful Group have put their New London Theatre up for sale, with a closed bidding process for a 101-year lease beginning at the end of the month. Currently hosting RSC productions of King Lear and The Seagull starring Ian McKellen, the 1,100 seater venue is the RUG’s last remaining playhouse in its portfolio. The group are reportedly looking to focus on their musical theatre houses – such as the Palace, Cambridge, London Palladium and the Theatre Royal Drury Lane – which could explain this latest move to sell yet another theatre after the sale of the Apollo, Lyric, Duchess and Garrick Theatres to Nimax Theatres in 2005.

Whilst a number of organisations have expressed interest in taking part in the bidding process, the RSC have announced that they won’t be looking to purchase the venue as their London home because of financial strains from the development of the Royal Shakespeare Theatre in Stratford-upon-Avon. However, could Stage Entertainment, who recently bought See Tickets from the RUG and have the long-term lease to the Shaftesbury just around the corner from the New London, be looking to expand their rapidly expanding theatre empire…?