Acquisition Opportunity – Square Chapel Trust & Square Trading Limited, t/a Square Chapel Arts Centre (‘the Group’) – In Administration

Mon 23 Mar 2020

Patrick Lannagan and Conrad Alexander Pearson of Mazars LLP have been appointed as Joint Administrators of Square Chapel Trust and Square Trading Limited.

Key selling points

• Long history of bringing national and international arts to the local area as well as working with local artists, diverse communities, schools, those with learning difficulties and disabilities, and generally supporting those who are most disadvantaged, both within the facilities and out in the community;
• Unique and extensive premises in the centre of Halifax, directly opposite the train station;
• Cinema, theatre and events space over two auditoria seating a total of approx. 340 people (240 and 100 respectively) or 400 standing and fitted out with DCI compliant (digital cinema initiatives) high end audio-visual equipment;
• Experienced and skilled staff with extensive experience in the sector;
• Full programme of future events.

Financial Highlights

The Groups forecast financial performance for the year 20/21 shows anticipated income of £1.18m and an anticipated funding shortfall of c.£168k.

Detail

The arts centre was established as an events space in 1988 and now provides cinema, theatre, live music, comedy, family shows, workshops and more to almost 100,000 visitors per year.

The arts centre is housed in an historic Georgian chapel (built 1772) in addition to a modern atrium and cinema which opened in 2017 for which the Group owns the long leasehold and freehold respectively. The site comprises foyer, events and workshop spaces including two auditoria, dressing rooms, dedicated volunteer space and a café / bar.

Contact

Interest is invited in the acquisition of the Group and or/assets, with further information available subject to a non-disclosure agreement.  Should you wish to receive further information on the opportunity, please contact Dan Fleming in the Manchester office at dan.fleming@mazars.co.uk.