Isle of Wight Radio understands Ryde Town Council has submitted its Expression of Interest to Heritage Horizon Fund, to buy Ryde Theatre.
This bid, if successful, could see this iconic building and the town as a whole benefit from in excess of £6 million of lottery money.
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The Town Council unanimously agreed to submit the Expression of Interest and to take the lead at a meeting on Monday.
With the support of the Isle of Wight Council and local community groups, in continuing to explore all options for the future ownership, operations and management of the building.
The Town Council also agreed that adequate resources will need to be in place at the Council to take this initiative forward.
Ryde Mayor, Councillor Michael Lilley said,
“I am delighted that Ryde Town Council has unanimously supported the Expression of
Interest to the Heritage Horizons Fund to enable the development of Ryde Town Hall and Theatre. This is an amazing opportunity for the community of Ryde. I cannot wait until the doors finally open in years to come. I thank all my fellow councillors and community for
starting this journey.”