A rescue package is understood to have been agreed for Byre Theatre in Fife.

The move will see the historic theatre in St Andrews re-open.

In 2013, the venue was forced to close after it ran into financial trouble, but last week, St Andrew's University submitted a formal proposal to the council, outlining a plan of sustainable future for the venue. It is thought a rescue package has now been agreed which will see the local authority lease the theatre to the university, who will then be responsible for running it.

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The plans put forward by St Andrew's University include refurbishing the theatre's main auditorium to allow it to be used as an additional university teaching space for lectures in England, Film Studies, Music and Social Anthropology. Elsewhere, the studio theatre would be used for the teaching of drama and script-writing, as well as for orchestra rehearsals.

At the weekends, the venue would also be in use by returning it to an arts centre providing space for local art and drama groups. Festivals and events, such as The Fife Jazz Festival and On the Rocks, would continue to be supported as well.

(JP/MH)