In Summer 2021, the Conservative run Council published an investment prospectus and Programme plan for a new Entertainment venue on the site of the old bus station. Investment Prospectus - Swindon Cultural Quarter | Swindon Borough Council. The realistic plans would have seen construction starting now for opening in Spring 2029.

In June 2023, the second action of the new Labour run Council was to scrap the project, but keep the same location.
In September 2024, Leader of the Council said a new venue would be open in 2026 before the Oasis Leisure Centre was reopened. Swindon: Replacement for Wyvern theatre could open in 2026 - BBC News and the Cabinet agreed to spend £40,000 on a full business case. Plans for new Swindon entertainment venue poised to advance | Insider Media
12 months later, no business case has been written and a decision to approve doesn't appear on the published Council Cabinet agenda which goes to 31st August 2026. Forward plan - Cabinet Work Programme and Forward Plan, 1 September 2025 to 31 August 2026
The current operator contract runs until 2027, with a one year extension possible.
Cllr Dale Heenan, "I took my family to watch shows like Bings Birthday over the last summer and I've seen for myself how the Theatre has been neglected recently. Black masking tape covering up rips in seats, cables behind seats with no trunking so children can play with them, and sink taps are loose in the toliets. The visible decline is clear for all to see simply with the outdoor signage. All while the Council subsidises ticket prices by six figures a year. Talking to other customers, the current state is putting people off and that will impact the viability of any new venue.
The Conservatives are seeking cross party agreement so if a viable business case and funding for a new Entertainment venue does not materialise in the next six months, then the Wyvern should have a small refurbishment to keep customers happy until a new venue is opened.
Despite promises of a new venue opening in 2026, there is no business case, no funding and no sign of any planning application on any site. All Political parties need to accept a new entertainment venue is years away because recent Council mismanagement means the town is effectively bankrupt with a growing £15m deficit and is overspending by £1 million a month."
Cllr Dan Adams "Having recently been to the Wyvern to see my daughter dance, we were faced with a sea of litter and tents filled with homeless, meters from the main entrance. Entering the venue, we were faced with seats that were broken, exposed wires, and a generally run-down facility.
Despite promises of a new venue being opened by the end of 2026, something everyone knows simply isn't going to happen. We see no efforts by Labour to not only maintain the venue we do have but secure its medium-term future for our town."
