Dudley Council is set to sell Halesowen's Cornbow Hall after revealing the town centre venue is losing £100,000 a year.
It is in negotiations to sell the hall, which has been home to concerts, pantomime and comedy shows for a number of years as well as finding alternative uses as a community centre. Councillor Simon Phipps, Cabinet Member for Regeneration and Enterprise, said:
"It was hoped that another organisation could take on the venue and turn it around. Despite significant levels of public interest at the time, and a number of proposals being put forward over several years, none have proved viable.
"An offer has been made by the current leaseholders of the building to buy the hall and the council is negotiating to sell the property as at this time it is the best possible financial option the council has.
“Like any organisation the council must seek the best possible value for money, even more so because our money comes from tax payers. Unfortunately, the Cornbow Hall has been losing over £100,000 per year, which clearly in the current climate is no longer sustainable.
"I understand this may come as a disappointment to those who used it as a community venue, as it is for myself and my colleagues, but we will work closely with them to find suitable alternative venues for their activities."