CINEMA entrepreneur James Hannaway is now only �130,000 short of the money needed to buy the old Odeon building in St Albans. Today the Alpha fund, so called after the former name of the cinema, stands at �870,000 – tantalisingly close to the �1 million p
CINEMA entrepreneur James Hannaway is now only �130,000 short of the money needed to buy the old Odeon building in St Albans.
Today the Alpha fund, so called after the former name of the cinema, stands at �870,000 - tantalisingly close to the �1 million purchase price.
Mr Hannaway, who previously restored The Rex in Berkhamsted, is still very optimistic about securing the art deco building in London Road despite overrunning the deadline for exchange of contracts on the building by five weeks so far.
He said: "By degrees it's becoming harder to hear myself saying, 'We are closer day by day - keep sending your money'.
In addition he pledged The Rex would be putting in �30,000 of its "rainy day cash" once the cinema fund came near to its target.
He thanked St Albans Civic Society for its help in canvassing support for the scheme and the Herts Advertiser.
The Odeon site is once more up for sale, complete with planning permission for 14 luxury flats and an underground car park so there's a race against time to raise the remainder of the money.
Make your cheque payable to The Alpha St Albans Limited and send it to The Alpha St Albans, The Rex Cinema, High Street, Berkhamsted HP4 2FG.
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