The Camden Art Centre has successfully secured a 99-year lease on its building, offsetting concerns regarding its short-term temporary occupancy and financial stability due to recent funding cuts. Established in 1965, the arts centre's initial lease arrangement with Camden Council was due to expire in 2027, making it difficult to secure substantial grants for improvements. With a target of £1.9 million reached in just nine months, the long-term lease provides reassurance for the centre's future, marked by significant significance as it coincides with their 60th anniversary.
This is an extraordinary achievement for the charity and provides much-needed financial resilience, following significant recent cuts to our public funding. On the occasion of our 60th anniversary, I can think of no better way to both celebrate our past and look with confidence to our future.
Camden Council agreed to give the arts centre time to raise enough money to buy a 99-year lease, and they say that they've managed to hit the £1.9 million target in just 9 months.
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