The iconic Broadway Theatre has not been sold according to the leader of Peterborough City Council, with the authority still in talks to buy it themselves.
Councillor John Holdich said theatre owner Rinaldo Fasulo had told him no deal has yet been struck despite estate agents City and County telling the Peterborough Telegraph a month ago that a bid had been accepted.
The council and Mr Fasulo are continuing their discussions over the sale of the theatre in Broadway, but Cllr Holdich admitted they were not close to an agreement.
He said: “I spoke to the owner and he said it’s not sold, but there has been interest subject to planning permission.
“I continue to pursue Peterborough’s interests to see if a deal can be done.”
The PT reported in July that architects had put together eye-catching designs for a multi-million pound redevelopment of the theatre which could see it converted into more than 50 luxury apartments.