St Albans cinema donations keep pouring in
PUBLISHED: 13:54 15 February 2010 | UPDATED: 14:53 06 May 2010
OVER £700,000 is now in the kitty towards the £1 million purchase price of the old Odeon in St Albans. Cinema entrepreneur James Hannaway, who needs £1 million to purchase the Odeon in London Road, confirmed today that the fund stood at £710,100 – nearly
OVER £700,000 is now in the kitty towards the £1 million purchase price of the old Odeon in St Albans.
Cinema entrepreneur James Hannaway, who needs £1 million to purchase the Odeon in London Road, confirmed today that the fund stood at £710,100 - nearly three quarters of the asking price.
And he is still very optimistic about securing the art deco building for £1 million despite overrunning the deadline for exchange of contracts on the building.
Mr Hannaway, who previously restored The Rex in Berkhamsted, said: "At over £700,000 in a mere five weeks I believe we will do it. Though the deadlines have been relaxed, time is still tight."
So far the money has come in as £14,282 in donations, investments of £466,000, loans of £38,500, advance memberships of £132,600 and sponsored seats worth £57,000. This brings the grand total so far raised to £708, 382.
The coffers could also be swelled further by a bid from a Facebook group to raise a further £2,000 by getting its member to club together and sponsor a couple of seats.
The appeal has gone out to its members saying: "We have over 1,320 friends so even if we get a third of our friends sending £5 each we can get two chairs with our group name embroidered which would be brilliant. A lasting testament to the powers of online social networking!
If you value what this story gives you, please consider supporting the Herts Advertiser. Click the link in the yellow box below for details.