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Your idea for a theatre, Chris, is recommendable. Last year I put a thread up proposing a theatre in Castle Street, in the old cinema. It transpired that the place is not fit for the purpose, as it is full of asbestos and structurally unstable.
However, I do object to using a church building as a theatre, and this would apply even if it were a catholic church building. Churches were made for people going to listen to someone talking about God from the Bible, and for communal congregation in terms of spiritual faith.
I really could not be bothered about football, yet I would not propose that a football pitch be taken away from those playing on it and converted into a carpark, as people would be hurt and offended by it. Sadly, Chris, churches are being pulled down or 'converted' in Britain in large numbers, and may-be one has to be of Christian Faith to feel the hurt in it.
It is also our heritage being torn down or converted.
But if you find another kind of building that could serve as a theatre, and this proves acceptable to people in general, then it might be a nice idea.