Council considers acquiring cinema up for sale

Felixstowe Town Council said it was looking at the possibility of buying the Palace Cinema

An 87-year-old cinema that is up for sale could be bought by a town council.

Felixstowe Town Council said it was exploring the potential acquisition of the Palace Cinema on Crescent Road in the Suffolk town.

The cinema was put up for sale in June with a freehold guide price of £700,000 after its current owner looked to reduce his workload after 50 years in the industry.

Corrine Franklin, the mayor of Felixstowe, said while no decision had been made the council felt it had "a duty to explore this opportunity seriously".

"The Palace Cinema has been part of Felixstowe's cultural and social fabric for generations," she said.

"We recognise its importance to our community and the potential value it could bring if preserved and enhanced as a venue for culture, leisure and community use."

Felixstowe Town Council said no decisions had been made yet over possibly acquiring the cinema

An extraordinary town council meeting was held on Tuesday where members agreed to begin a process of due diligence including commissioning surveys, valuations and legal advice, to access the viability of acquiring the building.

The council said it would be engaging with the vendor, their agents and potential partners as part of the process.

Before any decision is made, a full business case would also be presented to the council.

Franklin added the council wanted to ensure any decision was "in the long-term interests of Felixstowe and its residents".

Palatial Leisure Limited, which owns the cinema, has been selling it alongside the Palace Cinema in Gorleston, Norfolk.

Patrick Duffy, the managing director of the company, said: "I've been in the leisure, entertainment and gaming business for over 50 years, and the time is now right that I look towards reducing my workload, hence the decision to sell our Felixstowe and Gorleston properties."