The future looks bright for the Sub Rooms as jobs are saved, the building remains in public hands and a huge refurbishment project is planned for the historic venue.

A final decision will be made at the strategy on January 17, which will see Stroud District Council save hundreds of thousands of pounds from annual budgets.

However, prior to the £1 sale, the district council will need to pay £125,000 for repairs to the roof of the 185-year-old building and a one-off grant of £230,000 will also be paid on completion of the transfer.

As part of the transfer agreement the town council has earmarked £83,000 for costs around the transfer.

“It is a great deal for everyone," Stroud Town mayor Kevin Cranston said.

"The Subs stays in public ownership, SDC avoids the ongoing costs of running the building, the Subs staff have secure jobs and there is an imaginative refurbishment planned with an exciting programme of events with something for everyone in prospect.”

If SDC Strategy and Resources Committee approves the final details on Thursday, January 17, the freehold of the Subscription Rooms and forecourt will be transferred to Stroud Town Council on March 28, and a new organisation, Stroud Subscription Rooms Trust will start running the building on April 1.

SDC leader, and committee chair Doina Cornell said, "This transfer will ensure the building and forecourt remain in public ownership and I wish the trust well in running it successfully for the community for many years to come.

“I would like to take this opportunity to thank the Sub Rooms staff for working so hard to keep the venue running during a period of some uncertainty.”