Refurbishment of historic theatre to begin this week, after Edinburgh Council and the Scottish Government plug the majority of a £9m funding gap.
Greig Penny Architecture via Capital Theatres
King’s Theatre in Edinburgh is moving ahead with a major redevelopment project after securing emergency funding from City of Edinburgh Council and the Scottish Government.
After the theatre announced it would be forced to close permanently if it was unable to fund a £8.9m shortfall for long-awaited redevelopment work, City of Edinburgh Council and the Scottish Government both increased their investment in the redevelopment project last week.
The council announced an additional £3m of support as part of its 2023/24 budget announced on Thursday (23 February), which was followed hours later by Scottish ministers signing off an additional £3.85m, taking total investment from the Scottish Government to over £10m.
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The board of Capital Theatres, which runs the council-owned, 117-year-old theatre, says the remaining shortfall stands at £1.7m, which “will be raised throughout the life of the project”.
The redevelopment project was originally forecast to cost £25.7m but was initially held up by the pandemic
By January this year, the final cost had spiralled to £35.6m, due to “project duration, complex buildability requirements, global events leading to supply chain issues, inflation and cost of living impacts,” the theatre says.
After securing the emergency funding, the board has said work can now start this week.
Capital Theatres Board Chair, Dame Joan Stringer, said: “As a board we are confident that enough funding has been secured that shovels can now go in the ground, in this the first step to the King’s Future.
“We are incredibly grateful to all our funding partners and indeed every person who has made a donation to make this happen.”
Councillor Val Walker, Culture and Communities Convener, added: “The King's has been a beloved Edinburgh theatre for over a century and we hope our support will enable it to be brought to a standard fit for the 21st Century whilst acknowledging its incredible history.”