Hastings cinema building for sale for up to £2m

Commercial property auctioneers Acuitus said the freehold of the Odeon cinema, operating at 122 Albert Road and 6 to 9 Queens Road is to be sold at the forthcoming Acuitus commercial property auction later this month.

A spokesperson said: “The 19,219-sq ft property currently produces an annual rental income of £322,141 and has a guide price of £1.9m-£2m. The current lease with Odeon Cinemas runs until June 30, 2038, benefitting from annual RPI rental increases to a minimum of one per cent and a maximum of five per cent.”

The property contains the Odeon, which has four screens of 138, 162, 132 and 116 seats, as well as a ground-floor foyer and café together with first, second and third floors for the screen and projection rooms.

Jon Skerry, of Acuitus, said: “Located in the heart of the town centre and close to the main entrance to the Priory Meadow Shopping Centre, this is a unique property which also offers investors long-term income with further conversion possibilities in the future.”

The Acuitus auction will take place on September 21 at 1pm and will be broadcast via livestream on the Acuitus website with bidding online, by telephone and by proxy.