Neptune Theatre in Liverpool is reportedly due to be refurbished after closing in 2005.

Its owner, Hanover Estates, has been in a dispute with Liverpool City Council since June 2005, when the venue was closed for refurbishment works and the former wanted to raise the rent to £60,000 from £6,000.

However, the council has agreed to a five-year tenancy at a "mutually acceptable" figure, according to the Liverpool Daily Post, and a six-figure sum will be made available to renovate the Grade II-listed building.

The venue originally opened in 1913 and has featured actors such as Dame Judi Dench on its stage.