West End theatre owners, Nimax Theatres, have purchased Andrew Lloyd Webbers theatre, The Palace.
The theatre is currently home to the smash hit show Singin' in the Rain and housed such favourite shows as Les Miserables, Jesus Christ Superstar, Song & Dance and more recently Spamalot and Priscilla.
This will be Nimax's sixth West End theatre, adding a larger musical house to their portfolio. They now own The Palace, Vaudeville, Apollo, Lyric, Duchess and Garrick. Previous oweners, Andrew Lloyd Webber's Really Useful Group still own The Palladium, Drury Lane and co-owns The Adelphi with Nederlander. Last year Michael Grade nearly purchased the four remaining theatres RUG own, The Palace, The Cambridge, The New London and Her Majesty's. With the purchase of The Palace, it is expected the other three theatre are on the market.