Dear Birmingham City Council,
The Council owns the freehold of Birmingham Hippodrome Theatre but provides massive subsidy to it by apparently granting a 125 lease at just a peppercorn rent. On top of that it seems the Council has granted the Hippodrome an option to purchase the theatre and associated land and also lent it money.
The freehold title WM172405 says in Charges Register 3 Note 2 "The Lease contains an option to purchase the freehold on the terms therein mentioned." What are the terms of this deal and does it exclude anyone else from buying the freehold? How much did the Council get for granting this option?
The Lease title WM677693 also says the Council have lent money to the Hippodrome. Why would this be when they are getting the theatre rent free? There seems to be at least one charge on the property. Please disclose copies of all charges and say what they were for and how much is still owed to the Council under them and when payment is to be made.
Does the Lease permit the Council to stop charging a peppercorn rent and permit it to start charging a commercial rent? If not, why not?
West Midlands Arts News Collective