The Melton Theatre in Leicestershire has been placed on the market with a price tag of £3.5 million, following a decision by Loughborough College Group to address “inherited historic financial liabilities” after merging in 2025. The sale, announced on Friday, does not impact performances scheduled for the remainder of the year, according to a college spokesperson.
The decision to sell the theatre, located on the former SMB College campus in Asfordby Road, comes after rescue bids for the venue fell through, as reported in December 2025. Loughborough College Group is simultaneously pursuing plans for a new Cultural Hub at The Stockyard in Melton Mowbray, in partnership with Melton Borough Council, to ensure the continuation of performing arts education.
“As a college group, education remains our absolute priority and we are pleased that a strong and sustainable performing arts provision in Melton is being secured through the development of a new cultural hub, which will ensure the long-term future of our course,” the college spokesperson stated. The new hub will provide students with access to modern cultural spaces for rehearsal and performance, and environments designed to support creative learning.
The development of the Cultural Hub at The Stockyard is supported by the transfer of £2 million previously allocated through the Levelling Up Funding (LUF). Melton Borough Council has safeguarded this funding for cultural and events space, and the partnership with Loughborough College Group is intended to enhance the offer and protect the future of Performing Arts education in the area.
Public consultation on the future of the Melton Theatre took place between October 3rd and October 31st, 2025, covering both teaching provision and the ownership of the wider campus, which includes Melton Library. IGNITE Performing Arts confirmed in December 2025 that they are working alongside The Stockyard to create the new cultural hub, despite the closure of the Melton campus.
FHP Property Consultants is handling the sale of the Melton Theatre site and is welcoming expressions of interest and enquiries. The future of the current theatre site is still under exploration, with the College Group working with key partners on redevelopment options.
However, some local residents have expressed concerns about the new Cultural Hub, with one Facebook user commenting that the planned space at the Cattle Market amounts to “basically two classrooms.”
