Banbury's former Odeon Cinema goes on the market for £2m - so what's next for our historic building?

Banbury's former Odeon Cinema has gone on the market for over £2 million - and developers said they are expecting high demand for the 'regal' building.

It is unclear what the future will be for historic site. White Commercial Surveyors said they are selling it as “a rare leisure investment opportunity,” adding that it has "future development potential, subject to planning".

There was a great deal of sadness when the cinema closed its doors on June 5 this year, given the building's long history in the town centre.

The building, originally ‘The Regal Cinema’ was designed by architects A.P. Starkey and Frederick Adkins and opened in October 1940 with Ralph Richardson in "The Four Feathers".

The four-storey facade was built of local yellow stone with seating provided for 897 in stalls and circle levels. By 1946 the cinema was operated by S.M. Super Cinemas Ltd; taken over by the Essoldo chain in 1954 and by The Classic Cinemas chain in 1972 and screening "The Godfather" and “Endless Night”.

The Classic was re-named Cannon in 1986 when the Cannon Group took control of Classic Cinemas and in 1996 the cinema became the ABC, with Odeon Theatres taking over in October 2001. Seating was provided for 422 people (plus four wheelchair spaces) in screen one and 225 in screen two.

The cinema shut on June 5 and a spokesperson said at the time: "After years of making magical memories for generations of cinemagoers, our cinema will be closing its doors for the final time on June 5. We've been truly proud to serve our guests at ODEON Banbury.”

White Commercial said it is offering the property for sale as an investment and considers that the site has "future development potential, subject to planning". The current owners are looking to sell the cinema at a price in excess of £2 million based upon the current rent which is set to increase every year until 2032.

Managing director Chris White said: “We are expecting a high level of demand in the Odeon, a landmark building in the centre of Banbury, from both investors and developers able to maximise the potential of this excellent site."

To find out more visit https://whitecommercial.co.uk/property/abc-cinema-horse-fair-banbury-oxfordshire-ox16-0ah/