Corn Exchange overhaul will double average ticket costs

The average price of a ticket at the Corn Exchange in Cambridge will rise to £50 or more by the fifth year of operation. This increase will follow a major refurbishment of the venue. The current average price for council-run events is £24 plus VAT.

The venue is part of the £97.5m Civic Quarter project. This wider scheme aims to revitalize the city centre. The Corn Exchange restoration is budgeted at £26.5m. The Guildhall improvements will cost more than £50m. Market Square upgrades are allocated £13.6m.

The renovation includes upgrades to the main auditorium. Foyers and bar areas will also be improved. The project will address seating, acoustics, sound quality, and lighting. The venue currently hosts about 180 performances a year. Officials estimate this number will grow to 340.

Labour councillor Beth Gardiner-Smith expressed concern about affordability. She stated that she did not want people priced out of regular events. She noted that the venue serves a public purpose. She added that the city is creating a civic space for the community. Therefore, tickets and events should remain affordable wherever possible.

The council stated that the price increase applies only to events it self-promotes. A larger portion of income comes from hiring out the venue. In those cases, the council does not control ticket prices. Council officers said income from the venue would help fund the rest of the Civic Quarter scheme.

A report to the authority's performance, assets and strategy committee on Tuesday described the revived site as a catalyst for a renewed arts and culture scene. The report noted the venue's historical role in UK music trends. Liberal Democrat councillor Karen Young chairs the committee. She said she has heard concern about the public being priced out. She stated that the committee will pass that message to cabinet.