The city council is to provide upto £2m for the improvements to the grade II listed site
Liverpool’s historic Philharmonic Hall is to undergo major renovations after a significant loan was secured through the city council. Liverpool Council owns the grade II listed building which it rents on a 100-year lease to the Royal Liverpool Philharmonic Society.
The society has approached the local authority for a loan of up to £2m to fund significant repairs. The art-deco style building is situated on Hope Street and has been since it was rebuilt in the 1930s following a major fire.
It is home to the UK’s oldest continuing professional symphony orchestra as well as its choir. The significant cash injection would be repaid over 40 years. Documents released by the city council said the funds were only agreed on the production of a “robust” business case.
READ MORE: Shop shut down for three months could face further punishmentREAD MORE: Major change coming to Merseyrail station ahead of Everton stadium move
The documents said: “The Royal Liverpool Philharmonic Society also has other funding sources which it will utilise alongside the loan which includes Arts Council grant. The loan will satisfy the conditions of the Arts Council grant which requires additional funding to come from a public sector body.”
We use your sign-up to provide content in ways you’ve consented to and improve our understanding of you. This may include adverts from us and third parties based on our knowledge of you. More info
The amount of the loan will be subject to successful fundraising by the society, meaning the full £2m may not be required. In the first instance, the loan will be limited to £1m with full evidence needed that any further cash is “absolutely necessary” to complete the work.
The decision document outlined how without the loan, the Hall would “fall into disrepair and be unusable for the activities to which it has been provided.” The total project cost is expected to reach £2.25m.
The decision was signed off by Cllr Ruth Bennett, deputy leader of Liverpool Council and cabinet member for finance, resources and transformation. It was confirmed on August 9 under delegated powers. The 100-year lease was agreed between the two parties in 2013.
The loan is unsecured and will be paid back from next year but could be paid back sooner “if practicable” with any break costs to be met by the Royal Liverpool Philharmonic Society. The documents said how the society’s finance director has confirmed proposed repayments are funded and affordable within the timescale.
They added: “The council is assured it is the funder of last resort. In accordance with the grant conditions for Arts Council funding, all avenues of funding have been explored by the Royal Liverpool Philharmonic Society.”
