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Yet another regional theatre is set to close following the announcement by the Executive Committee of Three Rivers District Council (TRDC) that it is recommending the closure of the 481-seat Watersmeet Theatre in Rickmansworth as part of its budget cuts for next year.
Just days after the closure of the Worcester Swan (ArtsProfessional issue 41, January 13) which also fell victim to its local Council?s 2003 spending plans, Ann Shaw, Leader of TRDC, has blamed the decision to shut Watersmeet on ?a miserly central government grant settlement for the district? and stated that the theatre is no longer affordable. Local feelings about the closure are running high, given that the venue is currently reporting record audiences and huge financial success. The recent pantomime exceeded previous box office records by 3,000 seats, generating £57,000 more than any previous Christmas show. 56,000 people have attended shows at the venue since April 2002, and a 3-year business plan for the venue was prepared last year. The Council recently approved a proposal to spend up to £2.5m on the expansion of Watersmeet, including a new cinema space. Approval was given for the appointment of a fundraising consultant and £100,000 has already been invested in the building.

According to Ann Shaw, the ongoing running costs for Watersmeet amount to about £0.5m a year, but this figure includes depreciation and internal re-charges, and in practice the savings made next year are likely to be closer to £150,000, just short of the net operating subsidy received by the theatre. If the proposal for closure is agreed at a full meeting of TRDC on February 18, discussions will be opened with potential partners interested in developing community-based arts activities and consultations will take place with residents over the future use of the site. According to the Council Leader, nothing has been ruled out, including the possibility of building a car park on the land. Watersmeet will remain open until June 2002.