Riverside Studios Bought by Trust Set Up By Billionaire
Anil Agarwal funding charity that has purchased building
Picture: Riverside Studios
October 25, 2024
The Riverside Studios in Hammersmith has a new owner after it was bought out of administration by the Riverside Studios Trust, a new registered charity.
The arts and culture venue had been continuing to operate for the last eighteen months pending the sale of the business and the building it occupies.
The new trust has been funded by ‘Metal King’ Anil Agarwal, an Indian billionaire who is the founder-Chairman of natural resources group Vedanta Resources.
His contribution has enabled the purchase of the building and allowed the operations of the centre to continue.
The contracts of staff at the centre have all been transferred to the new charity.
Tony Lankester the CEO of Riverside Studios said, “So all we have been doing can now continue uninterrupted – inspiring theatre, comedy and music; great independent cinema; amazing food and drink in our Bar & Café; and all our community events.”
He added, “Trading under Administration has been challenging in many respects, but I’m hopeful that these developments usher in a new era of stability for Riverside and frees us up to plan more long term, and to continue to be your creative home in West London!
“Thank you for your love and support during this time – we look forward to seeing you soon as we continue our journey.”
According to The Sunday Times Rich List in 2020 Mr Agarwal, who lives in London, had net worth was estimated at £8.5 billion.
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