Banbury's Odeon Cinema put on market with a price tag of £2m

Published by

Stephen Emerson

The Odeon Cinema in Banbury is for sale with a £2m price tag

A mothballed Oxfordshire Cinema could be given a new lease of life after being placed on the market by its owners.

White Commercial Surveyors are selling The Odeon Cinema in the centre of Banbury, which closed in June, and are seeking offers in excess of £2m.

White Commercial are selling the property as an investment with a view to future redevelopment subject to planning.

Chris White, White Commercial Managing Director, 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. Banbury and the Oxfordshire region have seen gargantuan changes since 1940, none greater than the development of the London to Birmingham M40 which signified in the 1990s the rapid development and expansion of the region.”

The 15,600 square foot property is currently let to ABC Cinemas Limited, guaranteed by Odeon Cinemas Limited at a current rent of £167,781.52 per annum exclusive, with annual rental increases in line with Retail Price Index until 4th April 2032.

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 is provided for 422 people (+4 wheelchair spaces) in screen 1 and 225 in screen 2.

Stephen Emerson

Stephen Emerson is the Managing Editor of The Business Magazine and is responsible for the publication's print publications and online properties including the newly launched Biz News websites in Hampshire and Dorset. Stephen has been a journalist for 20 years and has worked at local, regional and national publications and led a team which made The Scotsman website one of the fastest growing news sites in the UK with over eight million monthly users. He has a keen interest in technology, property and corporate finance and telling the stories of the people behind the successful firms in these sectors.