The renovation of the King’s Theatre can now begin as the necessary funding has been topped up by £3 million from The City of Edinburgh Council in the budget passed on Thursday, and an additional £3.85 million from The Scottish Government.
This funding added to the £26.7 million already raised, with additional monies pledged since January, amounts to £7.2 million. This is the majority of the £8.9 million considered necessary to proceed. Although there is still a shortfall it is sufficient to allow the board of Capital Theatres to proceed on the basis that more fundraising will be done during the lifetime of the project.
Fiona Gibson CEO of Capital Theatres which runs the King’s Theatre said: “We are absolutely thrilled by the generous additional investment of City of Edinburgh Council and Scottish Government in the redevelopment of the King’s at a level which makes it possible for us to begin construction works as planned. We are immensely grateful to the many people who have supported us on this challenging journey – we could not have come this far without you. Our major funders alongside the many trusts and foundations and corporate sponsors and individual donors will make the transformation of the King’s possible and save this beloved theatre for Tollcross, Edinburgh, Scotland and preserve it for future generations. Long Live the King’s!”
Dame Joan Stringer Chair of Capital Theatres Board said: “We are delighted that after so much hard work from our organisation, so much support from our partners and so much good faith from our audiences, we are now at the point where we can start this vital redevelopment. The King’s is irreplaceable, and a future in which it isn’t saved is unthinkable. 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 said: “Despite the continued financial restraints placed on local authority budgets, I am pleased to say we’re able to allocate additional funding for the King’s Theatre to meet the recent challenges and help close the funding gap. Our £3m funding injection in the much-loved King’s will support its redevelopment ambitions so that the theatre can be enjoyed for generations to come. 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.”
Culture Minister Neil Gray said: “Edinburgh’s reputation as a cultural and creative hub is renowned the world over and theatres like King’s play a key role in sustaining this. This additional £3.85 million funding from the Scottish Government will ensure this iconic theatre can undertake vital redevelopment and reopen for many more generations to experience the joy of the theatre. The Scottish Government has provided a total of £10.35 million in funding for the King’s Theatre and this is testament to the value we place on the importance of its redevelopment and its future potential in supporting the arts, employment and community engagement.”
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