A council has unveiled plans to secure £7.5m to revamp a ramshackle theatre which once hosted Charlie Chaplin.

The Theatre Royal in Margate - originally opened in 1787 and the fourth oldest in the country – has been closed and empty since April 2022.

Fresh proposals for its future, launched last year, include a bar and cafe, 50-seat studio theatre, sound recording studio, rehearsal rooms/dance studio and accommodation.

Owner Thanet District Council’s (TDC) aim is to create a “nationally significant performing arts hub” at the venue and adjoining building 19 Hawley Square.

It is the second oldest working theatre in the UK, and was added to the Theatres Trust’s ‘at risk’ register.

Now, councillors will discuss starting an independent charitable entity to operate the site.

Bosses say the not-for-profit will significantly increase the likelihood of winning £7.5 million worth of funding bids from the National Lottery Heritage Fund and the Cultural Development Fund.

This figure is on top of £2.2 million already applied to the project in 2021 from the Margate Town Deal.

Cabinet member for regeneration and property Cllr Ruth Duckworth said: “The Theatre Royal in Margate is a unique theatre with an impressive 245-year heritage.

“This is recognised by the Theatres Trust which has included it on its ‘theatres at risk’ list.

“The scope of the refurbishment project is undeniably ambitious, but if external funding can be secured, I believe that it is achievable, and promises a long and successful future for both the theatre and 19 Hawley Square.

“I look forward to reviewing the proposals with Cabinet.”

Councillors will discuss the idea on May 30.

Should the charity be set up, it would operate the performing space separately from the council.

This would include high quality and imaginative programmes, marketing and audience development proposals.

If agreed, the trust would operate all functions within the venue for a period of at least 10 years, managing everything from venue programming, ticketing, to technical and facilities management.

Steeped in history, the venue is the UK's second oldest working theatre.

It was originally designed and built in 1787 and is Grade II-listed but has fallen into decline in recent years.