Ipswich Odeon Cinema building sells for 拢530,000

Image caption, The guide price for the former cinema was 拢500,000

A derelict former cinema, which closed in 2005, has been sold at auction for 拢530,000.

The five-screen Odeon on St Margaret's Street, Ipswich, went under the hammer at Savills in London.

The guide price was 拢500,000, although the building was originally put up for sale for 拢1m last year.

The building was being sold by Premier Leisure (Suffolk), but Savills said the buyer's identity would remain confidential at the moment.

The art-deco style cinema, which was built in 1991 next to the Regent Theatre, has 29,900 sq ft (2,870 sq m) of floor space.

Chris Moody, director at Savills Ipswich, said: "Planning has already been granted for change-of-use to a nightclub, tenpin bowling, restaurant, amusements, sports bar and music rooms."

Ipswich Borough Council said, if it was not reopened as a cinema, it may require a new licence.

Councillor Carole Jones, economic development portfolio holder, said: "We are pleased the former Odeon has been sold and would be happy to discuss with the new owners any future plans they have for the building."