The freehold for the 19th century Lincoln Theatre Royal building on Clasketgate has been sold at auction this week.
The building has been purchased by an Isle of Man property investment company, which has not been named.
The Lincolnite understands the building sold for just over the guide price of £700,000 at the auction on April 24 by Pattinson Auction.
Lincoln Theatre Royal and its programme of events will continue to be run by production company Moonstone Entertainment, with seven years remaining on their existing lease.
The theatre was built in 1893 on the site of an older theatre, which burnt down in 1806.
The Grade II listed auditorium has been refurbished in recent years by the current theatre company and accommodates 475 visitors.
Deborah Adams, Midlands Auction Manager at Pattinson Estate Agents, said: “I was delighted to be given the opportunity to market this unique building for our auction.
“It has a beautiful Grade II listed auditorium which has buckets of potential to be used as a stage school for generations to come.”
The show goes on
Nicola Dickens from Lincoln Theatre Royal said: “We still have the lease on the building and it’s ‘business as usual’ for us.
“The sale is purely a business matter and people will still be able to get tickets to the programme of fantastic shows that are here this year.”