St Albans cinema donations keep pouring in
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."
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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.
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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!