WILL PHILANTHROPY SAVE THE INDEPENDENCE OF CARRIAGEWORKS

The subsuming of Carriageworks into the bosom of the Sydney Opera House seemed to be a done deal.

Unable to receive annual rental  of $1.1 million from its popular weekend Farmer’s Markets nor its ticket revenue of $1.9million it appeared to permanently shut its doors.

A further problem is that the land on which it sits is on a short term lease from CreateNSW which appears  to be an impatient landlord.

However several leading arts philanthropists are believed to have offered  more than $2million to rescue Carriageworks from voluntary administration until its traditional sources of revenue can recommence.  The administrators have been non-commital in relation to the offers made as it was at an early stage sorting out the Carriageworks finances.

To date, 29 workers were let go before voluntary administration. A small team of twelve employees are working reduced hours to maintain essential services.