Average Cambridge Corn Exchange ticket prices could double

The Corn Exchange is set to be redeveloped as part of the wider £95.7m Civic Quarter scheme to revitalise the city centre.

The venue, considered the largest performance venue in the East of England, would see upgrades to the main auditorium, improvements to foyers and bar areas, improved seating, acoustics, sound quality and lighting.

The wider plans also include work on refurbishing the Guildhall, Market Square and public spaces in-between.

A report to Cambridge City Council ’s performance, assets and strategy overview and scrutiny committee said a revived Corn Exchange would act “as the catalyst for a renewed arts and culture scene in Cambridge drawing on its roots which saw it at the forefront of the changing trends in the UK’s music scene.”

Sam Scharf, the council’s director of communities, said: “It’s already failed – I mean, last year it rained a bit and we had to cancel Tim Peake.

“We then put a short-term remedy in with a bit of leading on top and that is not going to hold up – it’s not got any longevity.”

Council officers said income from the venue will help fund the rest of the Civic Quarter scheme and project it will increase by a large amount after the refurbishment.

Performances are estimated to increase from 180 a year to 340 and average ticket prices for council-run events from £24 plus VAT currently to £50 plus VAT in year five of the new venue’s opening.

Officers said this only applies for events they self-promote and a larger amount of their income comes from hiring the venue out, when they don’t have control of ticket prices.

Cllr Beth Gardiner-Smith said: “The business case also notes that the projection of event income is high compared to the benchmark venues.

“I think it’s projecting a 43 per cent increase in attendance in year five and similar increases in performances. That feels big to me so I just want to make sure that we think that is robust.

“What I don’t think we want to see, but maybe others would disagree, is that people across Cambridge are priced out of going to events on a regular basis at the Corn Exchange.

“It’s a public venue for a purpose and it’s all part of this idea that we are creating a public realm and a civic space for our community and therefore we want tickets and events to remain affordable wherever possible.”

Council officers said that the higher end of tickets is “growing exponentially” compared to lower-priced tickets which has driven up the average.

Chair of the committee, Cllr Karen Young, said: “I’m hearing a lot of concern about the public not being priced out so we will pass that message onto cabinet.”