The owner and operator of the Dominion Theatre in London's West End has purchased the Grade-II listed building's freehold with the support of a "multi-million-pound" loan from Lloyds Bank.
Nederlander Theatres, which also owns and operates the Aldwych Theatre and co-owns the Adelphi Theatre, said the acquisition of the freehold was the "culmination of a decades-long effort" by the family-run business to invest in and restore the art deco Tottenham Court Road theatre.
Jerry Katzman, CEO of the Dominion Theatre, said: “Our landlords were very understanding and have supported our efforts to invest in the Dominion, but owning it outright means we can continue to invest and operate in the way that will create the very best shows and experiences for our visitors.
“The Nederlander family has been in the theatre business continuously since 1912. It’s their passion to keep theatres in the industry and restore them to their iconic magnificent grandeur. We now have the base to press on with that ambition, and the Dominion’s ready to deliver unmissable shows for generations to come.”
“London’s West End is a huge draw for culture vultures from not just the UK, but across the whole world. The Dominion is at the heart of that, and the purchase helps protect a vital cultural asset in London," added Delcan Mulcahy, Technology, Media, and Telecoms sector head – mid-corporate at Lloyds Bank.
“The team behind the theatre have a clear vision, and owning the freehold has been a major strategic objective for decades. We’re proud to have helped the Dominion achieve that, and we remain by the side of creative businesses across London to dream big and be ambitious."