Leith Theatre Trust Secures 50-year Lease For The Leith Theatre

Leith Theatre Trust has announced that it has secured a 50-year lease for the much-loved Leith Theatre. This achievement, the culmination of a 20-year campaign, cements the future of the iconic venue, allowing a stable foundation for future ambitions.

 

For the first time since 2004, and with the security of a long-term lease, the Trust is able to confidently plan for long-term development, and crucially, seek the investment required to transform the venue into a sustainable and vibrant cultural space.

 

The significant long term lease agreement marks a turning point for Leith Theatre, delivered 17 months after the Trust received committee approval at City of Edinburgh Council's Finance and Resource Committee in September 2023. This has been achieved after working closely with council officers and legal teams, in parallel with investigative works to conduct due diligence in relation to building health.

 

This achievement is a testament to the commitment of Leith Theatre staff, board and key personnel from the City of Edinburgh Council who have persevered and worked hard to protect and preserve this vital community asset.

 

Originally saved from the risk of private redevelopment by a group of local campaigners, Leith Theatre has often been overlooked in its lifetime but has nevertheless stood the test of time. This positive step forward for the whole complex is vital to its protection on its journey to becoming a beacon of regeneration and heritage preservation, allowing it to fulfil its ambitions and take its place at the heart of Leith life as an innovative cultural and community venue.

 

Lynn Morrison, Chief Executive of Leith Theatre, said: “I feel so proud to play a part in safeguarding such a unique and incredible heritage asset, so many of which are now commonly under threat.

 

“Saving this particular building has been a strong local response to that threat. The lease now gives us the stability to develop and steer this project towards refurbishment and sustainability as a key piece of cultural infrastructure in the city.

 

“I believe this space can be transformational for Leith and I am excited to plan for its long-term future.”

 

Bob Last, Chair of Leith Theatre, said: “When I took on the role of Chair at Leith Theatre, my primary goal was to ensure that we negotiated a new long-term lease for this asset gifted to the people of Leith in the 1930s. After many months of work alongside a tenacious team, I am pleased to deliver the vital security this lease brings.

 

“In celebrating this moment not only are we standing on the shoulders of the original architects whose vision I have ever greater respect for, but also all the skilled labour that went in to every detail of its construction, everyone who has enjoyed events at the theatre for more than 90 years giving the building meaning and, crucially, previous members of the Trust and all those who have spoken out about the building over the years. Leith Theatre will now be an important part of Leith and Edinburgh's future cultural and community landscape.

 

“I look forward to continuing to work with Leith Theatre as we seek to unlock further capital investment and bring more and more vibrant life back to this iconic space.”

 

Val Walker, culture convener at the city council, said: "A 50-year lease is a remarkable milestone, and I'm very excited to see the venue thrive as a lasting music, cultural and community asset.

 

"This is the beginning of the next chapter. With the continued interest and enthusiastic support for the venue I very much look forward to seeing what the future holds.”

 

David Orr, Commercial Real Estate Partner at Aberdein Considine, who negotiated the lease on behalf of Leith Theatre Trust, said: “It is immensely rewarding to have played a part in this extremely exciting new chapter for the iconic Leith Theatre, which will both preserve this significant piece of the historic built environment and revive this unique venue for the cultural and creative industries. We are proud to have worked alongside the Trust and partners to bring this lease deal to fruition and we look forward to supporting the continued success of Leith Theatre Trust in the years and decades to come.”

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