Hippodrome up for sale
A LONDON developer who bought Derby's former Hippodrome theatre for less than £400,000 two years ago has put it up for sale for £1.2m.
Christopher Anthony said the hefty price tag reflected the debts he built up from repeatedly remortgaging the Grade II-listed building to pay for work he had done to it.
But since he bought the Green Lane site in May 2007 it has suffered severe damage, including a fire, and parts of its roof and sections of wall collapsing as Mr Anthony's contractors carried out work on the building.
And one property expert today questioned the seven-figure valuation.
The unnamed agent said he believed that even if the land came with permission to demolish the listed building so it could be redeveloped, which it currently does not have, it would only be worth around £500,000. Otherwise, he said it was "of little value".
Mr Anthony said the building had been a "nightmare".
"I have the bank breathing down my neck," he said.
"It is not really my building, it is the bank's and I can't sell it for less than I owe. This has put me in a really awkward position financially.
"I have spent so much on it. The majority has gone on asbestos removal, then repairs and liaising with the council."
He said other costs had included architect fees, surveys, protection, stamp duties and interest payments.
The building has landed Mr Anthony in legal as well as financial difficulties on more than one occasion.
After the old theatre's roof collapsed in March 2008 as Mr Anthony's contractors used heavy machinery to work on it, Derby City Council took him to the High Court to get an injunction preventing him carrying out any further work on it.
Now the authority is taking further legal action against Mr Anthony and his contractor Wayne Watson, alleging they carried out unauthorised work on the listed building.
Both men have pleaded not guilty to the charges and the case is due to be heard at crown court next year.
Richard Williams, assistant director of regeneration and community at the city council, said: "Anyone wishing to purchase this building will need to be fully aware of Mr Anthony's current position with the council as well as his own financial liability."
Meanwhile Mr Anthony has submitted plans for a 346-space multi-storey car park on the site but said he was willing to walk away from that idea if the building could be sold.
The car park plans have sparked opposition from campaigners who want to see the building restored as a theatre.
Mr Anthony said he had offered the building for sale to several groups, including the Derby Hippodrome Restoration Fund, on previous occasions, without detailing a price, but had not received an offer.
He said: "No-one in Derby has come up with a sensible solution for the building."
Joan Travis, chairman of the Hippodrome Restoration Fund, said she was not aware of any approach by Mr Anthony in relation to buying the theatre.
She said: "Mr Anthony should be putting it right and repairing the damage that has been done to the Hippodrome before he even thinks about selling it.
"The best thing Mr Anthony could do is to cut his losses, give the building back to the council and forget about it all."
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by Chris, Derby
Wednesday, December 02 2009, 4:00PM
“The point is that the building is listed and uses MUST offer cultural enhancement of the area. Car Parks, shops, stores etc. are not part of the equasion.
Christopher Anthony was given an opportunity to come up with a sensible use for the building, as defined by rules set out by the Governement, when the Enforcement Order to rebuild was suspended by the Council. He came up with the idea of a multi storey car park.
Derby New Theatre Association wrere given provisonal approval to turn this back into a theatre in September 2006 but the building was sold without them being given the opportunity to make an offer. Since then there has been a sustained activity by several groups to have the building returned to its original use - a sensible and practical solution. However this has since been held back by partial demolition and two developers with an interest in car parks, placing every available obstruction available in the way of preventing restoration. They have so far failed to achieve their plans, they would be best advised to give up whilst hey still have money to spend on other projects elsewhere in the UK.”
by Angela, Derby
Wednesday, December 02 2009, 3:47PM
“I live around the corner from the Hippodrome and pass it daily. I saw the "work" the owner was doing on it. I believe it was his intention to demolish it, by whatever means possible. It was interesting to see parts of it had been removed, no doubt causing the rest to cave in. Derby City Council planning department must hold some of the blame for this saga, given he was intending to build a multistorey carpark and would have had to apply for planning permission. They obviously didn't do their homework on the buyer, he did much the same thing to a former church he purchased some years previously, removing key structures.”
by tony, derby
Wednesday, December 02 2009, 3:26PM
“Get with the programme Tom. Tesco opened up earlier on this year in the near vacinity.”
by Tom fulep, Sinfin
Wednesday, December 02 2009, 3:10PM
“Perhaps Tesco might be interested in the place!”
by Chris, Derby
Wednesday, December 02 2009, 3:03PM
“To the other Chris, I was not suggesting you should not have an opinion, sorry if this is what you thought. I read the full story about the regeneration of Green lane in a printed copy of the paper last week and it is very comprehensive, Sadlergate, Strand, Iron Gate and the Wardwick will also benefit.
I went to a "consultation" regarding Becket Well and this is also to be regenerated along with Macklin Street and Green Lane becoming a conservation area.
It will take some time to complete, the Hippodrome Restoration target if or 2014, exactly 100 years since it opened. This story was also published in he media.
I am not criticising you, Sorry if you took this personally. I do share your concerns about Duckworth Square and the Becket Well area, but please have faith in what can be done, the more support and belief in these ideas we citizens of Derby have, the more likeley we are to see them come to fruition.”
by Another Chris, Derby as well.
Wednesday, December 02 2009, 2:42PM
“I did indeed miss the story about the "fortune" the Council are committing to this area. I don't spend a lot of my time on this website, but it is a little patronising to criticise someone for merely having an opinion on what they see. We have heard many plans for the area over the past few years and I look forward to seeing this fortune forthcoming to improve this part of the city. Duckworth Sq has been a disgrace for years. I am entitled to my opinion, with or without the time to commit to doing my homework diligently. In the meantime let's see what and when this regeneration will kick in. However, I don't ever see it being one of the most attractive parts of the city, but would love to be proved wrong. The most attractive parts of our city were demolished years ago - lovely Tudor buildings lost forever. Many people probably wouldn't agree, but that's the point of having an opinion.”
by Voltaire, man who knows everything
Wednesday, December 02 2009, 2:28PM
“Looks like it's going to be a lean Christmas in the Anthony household this year. Oh dear, what a shame, nevermind..
Tip for Mr Anthony.
Drop the Theatre keys off at Maxwell Cravens house and head for the M1 southbound. :)”
by Chris, Derby
Wednesday, December 02 2009, 2:09PM
“There appears to be another "Chris" making comments here, however he has completely missed the point about "REGENERATION" with his suggestion that this is a "Depressing area of the city" he has obviously missed the story the other day that told us how the Council is spending a small fortune on rstoring the "Victorian Splendour" to this area, plus the fact that the area is about to become a conservation area.
Restoration of the Hippodrome will contribute greatly to the over-all plan to REGENERATE the area which will make it one of the most attractive parts of our city.
So other Chris do your home work befire condemning an entire sector of our city to slum status.”
by Jo, Derbys
Wednesday, December 02 2009, 2:03PM
“Sorry- that's "offer."”
by Jo, Derbys
Wednesday, December 02 2009, 2:02PM
“Hi Chris-
thanks for your informative comments. It 's common knowledge that someone did indeed make an off to the owner, and it was declined.
So why would he claim otherwise?
I can't trust anything he says- it all sounds like game playing.
Must go now- but good luck to the Derby Hippodrome Restoration Group.”