LEVEN’S Community Cinema has won a stay of execution after The Regent cinema building on the town’s Commercial Road failed to sell at auction.
The cinema didn’t attract suitable interest when it went under the hammer in Glasgow, on Tuesday of last week, with owner Victor Levy of Raphael Properties looking to achieve a price of £120,000.
However, it may only prove a temporary reprieve as the building is again listed on the Future Property Auctions website, this time with a guide price of £110,000 plus.
Opened by the community cinema group in March 2010, for the past few months The Regent has been surrounded in speculation with the owner and tenant failing to agree a sale price.
That led to Mr Levy putting the building into auction, though he insists he wants it to remain in the community.
Explaining the sale he said: “We are very supportive of what they (Leven Community Cinema) are doing and we like very much the aims of helping the community.
“It’s slightly unfortunate that I am trying to cut down my property work and it doesn’t really fit in with the profile in the future.”
The community cinema group has a lease running until January 2013 so regardless if the property is sold, or not, the group can remain on Commercial Road until at least the new year.
The Mail tried to contact the community cinema’s acting chair, Sandra McKeen, but she was not available for comment. It is therefore unknown if the group is able to raise the new asking price or if it still in fact wants to try to purchase the building.
Local estate agent Jim Parker had tried to rally the community into raising funds but described the reaction as “pretty poor”.