Battersea Arts Centre (BAC) has been awarded £150,000 by Wandsworth Council towards an overhaul of the Grade II*-listed Old Town Hall's Grand Hall on Lavender Hill.

The local authority has contributed the funding as part of the Town Centre Improvement Scheme, which aims to enable businesses to access grants and interest-free loans towards renovation schemes. Efforts to renovate the Wandsworth Council-owned property first started in 2008 when BAC was granted a 125-year lease on the venue, with the first 20 years rent-free.

The agreement has enabled the arts venue to take on responsibility for its own finances, able to access redevelopment funding as an independent institution and using the rent-free period to implement its business plan. Wandsworth Council executive member for the environment and culture Sarah McDermott said: "BAC is a huge asset to Battersea where people from all over London come to see some truly exceptional performances.

"It provides an invaluable starting point for young talent and works closely with local schools and community groups to encourage more people to get involved with the arts."