The owners of London's West End theatres need to look at some more innovative options to secure the £250m funding needed to restore the buildings to their former glory, a new report claims.

Improvement works to theatres in the West End - which contribute around £1.5bn to London's economy every year - has been the subject of debate for years.

In the latest report - 'Restoration Drama - Investment in West End theatre buildings' - it is claimed there is no single solution to tackling long-term under-investment that has left many theatres in desperate need of refurbishment.

The investigation looked at all 40 commercial theatres in the West End - all of which were built before 1937 and most of which are ageing fast.

While some, like The Gielgud, have benefited from private investment, others, especially playhouses such as The Garrick, are in dire need of refurbishment to improve the lack of toilet facilities, bad seating and poor sightlines, as well as structural and aesthetic works.

Some ideas put forward include theatres owners introducing a ticket levy, corporate sponsorship, fundraising campaigns and debentures.

The report also notes that securing public money may now be complicated by the pressures many of the potential funding bodies are facing due to millions of pounds being diverted to the 2012 Olympics.

Bob Blackman, who led the investigation, said: "It would be a tragedy to see these iconic buildings slip further into disrepair, especially with theatre audience numbers now at record levels.

"There does need to be a willingness among theatre owners to take a more creative approach and look at options - or a combination of options - that they may not previously have considered."