Council no longer looking to acquire cinema

Felixstowe Town Council said it would not be continuing to look at buying the Palace Cinema on Crescent Road

A town council will no longer pursue buying an 87-year-old cinema that is up for sale.

Felixstowe Town Council previously said it was exploring the potential acquisition of the Palace Cinema in 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 the purchase would not be viable at this time due to the costs.

The council met on Wednesday to consider the findings of an independent valuation and supporting reports.

It made its decision following a full debate and while councillors were clear that the cinema was an "important cultural landmark", the costs and liabilities "would have placed substantial obligations on the council and its taxpayer".

Franklin said despite this the council remained supportive of "its retention as a cinema".

"We will continue to monitor developments closely and would be open to discussions with prospective purchasers to explore ways in which the cinema might be safeguarded and enhanced for the benefit of our community," she added.