Saved?
So the developers' appeal against the decision preventing the redevelopment of the old cinema was thrown out last week. But the building continues to crumble. Will it be just left until it really is in such a state that it cannot be economically repaired or will someone who wants to restore it as a public building be able to buy it from the developers? As I understand it the price they paid reflected the possible value of the building and site as a redevelopment opportunity but that was something of a risky, speculative venture as it depended on planning permission that had not been, and still hasn't been granted. Trouble is, the value of the building to someone who wants to restore it is probably significantly less as it brings with it all the restoration costs and none of the medium term cash from selling new flats. Hopefully something can get sorted out.
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