THEATRE fanatics who have fought hard to secure the future of a landmark arts venue are celebrating after taking over from the council

The Corn Exchange Trust will mark its 25th anniversary by becoming a 'truly independent charity' and pledging to provide opportunities for the next generation of aspiring performers.

West Berkshire Council surrendered ownership of the Newbury building to the trust, after it was announced that funding for the project would be cut by £78,000 last year.

The 400-seat venue has been owned by the council since 2000. However, it emerged that the authority would no longer be able to support the arts centre when the contract expired next year.

Paul James, culture and libraries manager for West Berks, said: “Over the last 20 years, the council has invested more than £8m of revenue funding and £2m of capital investment in The Corn Exchange and we are delighted at the way the trust has gone from strength to strength in delivering a first-class arts service for local people.

“However, in recent years, councils all over the country have had to make tough financial choices and, sadly, this means that we are no longer in a position to continue to provide funding to the Corn Exchange after March 2019.

"We have to balance competing needs for our resources and we believe transferring the ownership of the Corn Exchange will help the trust in the long term.”

Members of the trust encouraged the council to hand over the management of the building after the cuts were revealed.

The theatre hosts a wide variety of performances from dance, theatre and cinema to comedy, music and outdoor performances.

Campaigners renewed fundraising efforts after receiving 'short notice' from the council about the slash in funding.

Grant Brisland, director of The Corn Exchange, added: “Passing the ownership of the building to the Trust was one of our suggestions to set us off on the right path and we are pleased that the council has agreed to support us in this way.

"It enables us to be a truly independent charity and it is my responsibility as the custodian of this wonderful building to ensure the arts and cultural activities we make happen here are protected for future generations.

“We have grown and stabilised the organisation and we are in the best position to manage the additional risk this opportunity presents."