Arts and Culture

This type of asset use is specialised in terms of its space and equipment requirements and the kinds of users they can attract.

Just like other types of asset use, buildings that are dedicated to the provision of arts and cultural activities will need to balance the costs of running and managing the building and its affordability to users. Although most arts and cultural activities can attract revenue subsidy (grants and contracts) to provide performances and activities that are affordable, some activities may need to be completely commercial in order to cross subsidise others. Alternatively cross subsidy may be provided by providing other types of asset use within the building - for example bars and restaurants/catering.

A good example is – a town development trust that now has a theatre, workspace, conferencing facilities, bar and restaurant.