A potential new operator who could secure the future of an historic Gloucestershire entertainment venue may be about to be announced, but it could cost its owners dear.

Stroud District Council will open talks over Stroud Subscription Rooms with Stroud Town Council, after it made a proposal to take the 184-year-old venue on, but a deal could cost the former £380,000-plus.

A £300,000 offer from Ecotricity was turned down in December last year because the district council decided to keep the building in public ownership.

SDC then invited bids for a 30-year lease. No bids were received as marketed, one proposal was made by the town council.

Members of SDC's strategy and resources committee voted to open talks with the town council over a freehold or a leasehold transfer and report back to them to approve any deal.

Doina Cornell, Council leader, said: "This is a really positive move and we can get cracking now on negotiations to get an agreement as soon as we possibly can."

If a deal is struck under the terms on the table then the town council will get control for just £1 a year while the district council would have to cough up £230,000 to an independent charity to run the venue and fork out £156,000 of structural repairs.

The town council would contribute £50,000 of working capital and meet the insurance premium for the property.

The terms of the transfer are subject to negotiation, and will need final approval from the strategy and resources committee.

The committee voted unanimously to support this, on Thursday, April 12.

The history of the building dates back to October 6, 1832, when land known as Kendrick's Orchard was conveyed to trustees to build Stroud Subscription Rooms. Some £3,050 had been raised through the sale of shares at £50 each, and the venue opened on October 24, 1834.