St Albans Cinema Dream Edges Even Closer
CINEMA entrepreneur James Hannaway was this afternoon just �89,000 short of the money needed to buy the old Odeon building in St Albans. That means the Alpha fund, so called after the former name of the cinema, now stands at �911,000 – tantalisingly close
CINEMA entrepreneur James Hannaway was this afternoon just �89,000 short of the money needed to buy the old Odeon building in St Albans.
That means the Alpha fund, so called after the former name of the cinema, now stands at �911,000 - 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: "�911,000 in just seven weeks is simply splendid. We must get the rest in by the end of the week."
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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.
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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.