A MAJOR West End theatre operator - which owns 12 London theatres and two Broadway venues - will run Stockton's revamped Globe Theatre, it was revealed this morning.

The Ambassador Theatre Group will run the venue, which once hosted the Beatles,for the next 25 years, Stockton Council said today.

A £4.5m lottery grant for the Globe's restoration and transformation into a live music and comedy venue has also been confirmed today, following series of delays and setbacks in the project.

Once restored, the neglected Grade II-listed Art Deco Globe will have a capacity of 3,000, making it the largest venue between Newcastle and Leeds, bringing an estimated £18m to the local economy each year, and creating more than 250 jobs.

The council said the new project, which will cost a total of £15m, will be will enable ATG to attract some of the world’s best known bands, artists and comedians to the Globe.

The cost will be £15million in total. Alongside the £4.5million from the National Lottery, the Council will contribute £10.5million.

Council leader Bob Cook, said: “A project of this scale and nature requires substantial investment to attract world class operators and to be feasible outside of London so we are hugely grateful of the funding from the National Lottery.

"The Globe’s restoration is the latest project to come to fruition as part of this exciting masterplan which is driving forward housing, business and cultural growth.

“The restored Globe will have a huge economic impact on Stockton Town Centre and the surrounding area while complementing existing arts organisations like Middlesbrough Town Hall and Darlington Hippodrome as well as ARC and The Georgian Theatre in Stockton, further boosting its reputation as a vibrant live music and festival town and placing Stockton-on-Tees at the cultural heart of the Tees Valley.

Among ATG’s portfolio are nearly 50 venues in the UK and the USA including historic West End venues like The Apollo Victoria, The Lyceum and The Savoy Theatre as well as the USA’s Broadway Theatre The Lyric which will soon house the Broadway premiere of Harry Potter and the Cursed Child.

Cllr Cook added: “It is a huge coup to attract an operator of ATG’s magnitude and we are delighted to have the opportunity to work with them to create a venue capable of hosting the kind of acts and performances that will attract audiences who currently have to travel to Leeds of Newcastle to enjoy music and comedy of this scale."

Mark Cornell, Group CEO of ATG, said: “With our producer and promoter relationships, we believe we can bring real value to the Globe and will aim to attract top artists from around the world in order to firmly establish the venue as a primary destination on the UK touring circuit.

"Thismeans that the Globe will be a market leading venue and will help firmly establish Stockton-on-Tees as a vibrant and cultural hub all the year round.”