YORK Theatre Royal will be sold to York Conservation Trust in the next two months, after councillors rubber stamped the deal this week.

City of York Council's cabinet met on Tuesday night to discuss the deal, and were urged to give it their approval by both the theatre's chief executive Liz Wilson and York Conservation Trust (YCT) boss Philip Thake.

Ms Wilson said the theatre building - parts of which are mediaeval, Georgian and Victorian - needs a great deal of attention to ensure it is well maintained.

She said that although the listed building was a fascinating part of York's history, maintaining it was a case of constantly "feeding the beast".

"It requires a lot of us and a lot of our landlords. It has been tough for both of us to invest sufficiently in the building."

Mr Thake said the immediate repair work could cost significantly more than the council's £300,000 estimate, while a "wish list" of work for the next ten years could cost upwards of £2 million, making the trust's offer to buy the building for £1 a very generous one.

Although Guildhall councillor Brian Watson questioned the proposals, which he said had been decided "behind closed doors", the deal was approved by the cabinet members with no objections.

After the meeting Mr Thake said the YCT existed to protect historic buildings like the theatre in York. He added: "Who would want to buy a theatre that requires several million pounds spending on it over a period of time - with £500,000 needed immediately - for a negligible return? The rent the theatre pay is £27,250, which is peanuts, and we won't be changing that."

The legal formalities between the council and the YCT now need to be completed, but the sale will be complete by the time a major refurbishment project begins in March, Mr Thake said.