Negotiations have ended between the owners of the former Phoenix Cinema in Dingle and a local group aiming to buy the property.
The former cinema closed for good in 2021, but a local group set up to restore the old cinema had gotten investment to make an offer on the property.
The estate agent acting on behalf of the owners of the property has issued a statement today.
The former cinema in Dingle closed pre-COVID, and it was announced it would not be reopening in November 2021, after more than 100 years operating as a cinema, and formerly a dance hall.
Ionad Phoenix CLG, a local group, was set up to raise funds to buy the building and convert it into an arts centre for the town, complete with a cinema, theatre, and community space.
Ionad Phoenix submitted a bid for the property, which was rejected.
Anthony Fitzgerald, the estate agent acting on behalf of the owners of the cinema, released a statement to say negotiations with Ionad Phoenix have ended.
Mr Fitzgerald says the group was informed of these intentions some time ago.
He said the owners and estate agents don’t doubt the sincerity of the group’s intentions, but they believe more than ample time has been afforded to the Ionad Phoenix Board.
Mr Fitzgerald wrote the time has now come to bring matters to a conclusion with the group, as they believe the group’s continued involvement in the sale process may affect potential interest from other prospective purchasers.
He says the property remains for sale and they will continue negotiations with other interested parties.
Ionad Phoenix say they remain very interested in acquiring the old cinema, their offer still stands, and they will continue to work their investors in their efforts to acquire the property.
