Jump to content
House Price Crash Forum
Sign in to follow this  
SarahBell

Not House Price...

Recommended Posts

I want to know how much my local council spent on buying out the local (and only) cinema

Roxy Cinema Hollins Road, Hollinwood, Oldham OL8 3QX

Any ideas?

OK I know I could prob go and look in council records but its cold and rainy and I don't fancy going out.

Share this post


Link to post
Share on other sites

I want to know how much my local council spent on buying out the local (and only) cinema

Roxy Cinema Hollins Road, Hollinwood, Oldham OL8 3QX

Any ideas?

OK I know I could prob go and look in council records but its cold and rainy and I don't fancy going out.

Could be a couple of million. Could be more or less depending on land values - I'm not familiar with those in your area. Also condition of the cinema is relevant - why have they bought this?

Share this post


Link to post
Share on other sites

They've bought it to develop the land for a business park (the guy who owned it has retired)

Oldham Council is about 10m in debt now - just wondered how much was because they'd bought the cinema.

(And how much do cinemas make?)

The irony of it all is tragic - they are starting a "mobile cinema" in a lorry when there's a perfectly equiped cinema all boarded up.

http://www.oldham.gov.uk/decision_recordin...05+09%3A00%3A00

Consideration was given to a report of the Executive Director, Regeneration which sought approval to terms for the acquisition of the Roxy Cinema at Hollinwood. The matter was considered as urgent business, to which the Chair of the Regeneration and Environment Commission had given his consent, as it was likely that the property would be sold to a rival bidder if the Council was unable to give an early decision to purchase.

RESOLVED - That

a) the terms as set out in the report for the acquisition of the Roxy Cinema be approved;

B) negotiations to seek the surrender of the existing advertising hoarding licences be approved;

c) negotiations to acquire the freehold interest in the site be approved; and

d) the scheme be funded through the use of prudential borrowing and the remaining provision for the refurbishment of the Old Town Hall.

Edited by SarahBell

Share this post


Link to post
Share on other sites

On related grounds...where I live there is a cinema which is owned by Odeon but a bit tired and I reckon a bit costly to upkeep.

I wouldnt be surprised if it gets sold on....which leads me to my question?

Is it allowed for a cinema to be sold to developers to build flats?

Does anyone know if there are leagl issues? I have heard it is diffcult for developing to happen on a site where a municipal/community building is.

Share this post


Link to post
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

Loading...
Sign in to follow this  

  • Recently Browsing   0 members

    No registered users viewing this page.

  • 301 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



×
×
  • Create New...

Important Information

We have placed cookies on your device to help make this website better. You can adjust your cookie settings, otherwise we'll assume you're okay to continue.