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Restoration Levy | The Albert Hall

Restoration Levy

Albert Hall Committee Meeting 29/10/14

Introduction of a ticket levy.

Background.

The Albert Hall was built as a multi-purpose hall in 1896 and established as a theatre in 1922 and is a grade II listed building. The building had a new roof back in 2010 but still requires modernisation, redecoration and further refurbishment to meet current fire and health & safety regulations.

There has been little financial planning for any future improvements to the building. The committee has been successful in gaining a grant to improve loft insulation and in turn reduce its heating costs. The recent energy report identified that the boiler was now outdated and only running at around 50% efficiency. This along with the heating system will need replacing very soon at an estimated of cost of £15000 to £20000.

It is also recognised that other projects such as back stage areas, dressing rooms, auditorium seating, hall redecoration and lesser hall refurbishment will all need addressing providing suitable funding is available/secured.

Proposal

To introduce a compulsory restoration ticket levy of 50p from 1st January 2015 on all tickets sold for performances and events held in the main hall of the Albert Hall. Hirers will be responsible for quoting all ticket prices as being inclusive of the restoration levy.

Details of the levy and its purpose would be promoted on the Albert Hall website and on the noticeboard in the foyer area.

Financial Impact.

If events such as the Theatre Company’s pantomime and YFC competition week sell out in 2015 there is an anticipated income from a ticket levy of approximately £1800.

There is essentially no impact for hall hirers as the charge is levied to the person buying the ticket, and therefore does not affect profit from ticket sales.

Recommendation

To introduce a compulsory restoration ticket levy of 50p from 1stJanuary 2015 on all tickets sold for performances and events held in the main hall of the Albert Hall.

To assess the impact of the restoration levy after 12 months of implementation; however there will be no increase on the levy until at least January 2018.

To channel the income from the proposed restoration levy into a separate fund to contribute towards the capital improvement works required within the Albert Hall.

Reasons for Recommendation

To enable the Albert Hall to become more financially sustainable.

To ensure this facility is maintained and available for future generations/organisations to enjoy and use.

To ensure the Albert Hall remains open and is able to comply with the appropriate legislative requirements.

Llandrindod Wells