The V&A in London and Blackpool Council are working on a feasibility study to move the V&A’s theatrical collection from its current home at the National Theatre Museum in London to the seaside town.

The National Theatre Museum in Covent Garden is set to close in the New Year owing to a lack of funds required to revamp the premises.

V&A director Mark Jones said: “The V&A is committed to showing the theatrical collections to as wide an audience as possible. Blackpool has a strong theatrical and entertainment tradition and attracts millions of visitors each year. A new museum in Blackpool could provide a wonderful platform to tell the story of British theatre.”

The museum would be devoted to British theatrical collections and would stage exhibitions and touring displays. In addition, Blackpool has numerous collections which could be added to the museum, including theatre archive material from the Pleasure Beach, Tower Circus and Grand Theatre.

Cabinet member for culture and leisure at Blackpool Council, David Owen, said: “As home to the National Theatre of Variety, we feel that we are ideally placed to host a new National Theatre Museum.”