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Dateline: 14th June, 2005
Lloyd Webber Theatre Sale Closer It is reported that Andrew Lloyd Webber is close to completing a deal to sell four of his West End theatres: the Apollo, Duchess, Lyric Shaftesbury Avenue and Garrick. In spite of scare stories that rapper Puff Daddy was a likely purchaser for one of the four, it now looks as though the buyer will actually be American producer Max Weitzenhoffer, the owner of the Vaudeville Theatre who, ironically, was one of the bidders for the theatres, all formerly part of the Stoll-Moss empire, when Lloyd Webber bought the group from Janet Holmes à Court in 2000. The cost of the 2000 deal for the whole group was reported to be in the region of £90m and the asking price for the four theatres is thought to be around £12m. Among others rumoured to be interested in buying the theatres are the Ambassador Theatre Group and Cameron Mackintosh. Currently Really Useful Theatres, Lloyd Webber's company, owns eight West End venues in addition to those which are up for sale: the Adelphi, the Cambridge, the Gielgud, Her Majesty's, the London Palladium, the New London, the Palace and the Theatre Royal, Drury Lane. Yesterday in a statement Andrew Lloyd Webber said, "I have always been keenly aware of the responsibility that comes with ownership of such valuable national assets, and throughout this process, have taken great pains to persuade my partner, Bridgepoint Capital, that we must sell only to someone who understands the particular nature of theatre and who will protect and preserve these very special buildings.” Please note that all three Archive indices are very long and will therefore take some time to download.
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