Kingston Rowing Club has played down fears its future may be under threat as it negotiates a new lease for its Canbury Gardens boathouse.

The club, founded in 1858, agreed a 42-year joint lease with Tiffin Boys’ School when they moved into the building in 1968, with Kingston Council taking responsibility for maintenance.

The council initially proposed doubling the rent from £6,500 to £13,500, something the club said it could not afford, but the two sides are now negotiating a deal that could be approved at July’s meeting of the council’s executive.

John White, project team member for the rowing club, said: “We are willing to take on the backlog and the future maintenance, which all adds up to a lot of money on a 99-year lease, which is what we are agreed on, but to do that we need an affordable business plan to go forward.

“We have made a proposal that I think will sustain rowing at the boathouse for the next 99 years and is affordable to us. The council is considering the proposal and we expect a deal in the next month or two.”

If signed, the club hopes to raise £200,000 from grants, reserves and old members to refurbish the inside and outside of the boathouse.

Canbury ward Councillor Geoff Austin said: “I don’t think there’s a genuine threat. Everyone wants it to continue. It’s an argument about how much they pay.

“They feel it’s in rather poor condition and obviously the borough valuer is trying to get the best deal for the borough. There is no doubt a deal will be done and the rowing club will continue in its current form.”