Colchester's former Odeon site up for auction at hefty sum

Originally built in the 1950s, the venue has been vacant for 20 years after a series of regeneration projects collapsed.

But the building is now due to go under the hammer at a public auction next month with a starting price of £2.25million.

Failed attempts – there have been numerous plans to renovate the venue over the years, all of which have come up short

There have been numerous attempts over the years to renovate the former cinema and the most recent plans – which were rejected last August – involved demolishing the site and replacing it with a replica building containing 55 apartments, two retail units and a basement car park.

Now, Blumarble Property Limited, which owns the building on Crouch Street East, has put the property up for sale and it is set to go under the auctioneer’s gavel on April 6 at 2pm.

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The auction will be open to the public, but will be taking place online via a live stream.
Joel Smith, the north Essex auction consultant for auctioneers Dedman Gray, said: “The buyers determine the true valuation, it’s difficult to lay an exact value on it because it has a variety of uses.

“We look at the potential build cost of the project and the profits the developers would want to make when taking on the project.

“We also look at the uses of the building, the location, the size, and we come up with a guide price that’s going to draw people in and the final result is decided by the buyer.
“We already have some very interested parties.”

Dedman Gray is working with Michaels Property Consultants, who are local property experts and the joint auctioneers for the site.

Faded relic – the venue had been an important player in Colchester's nightlife since it opened in the 1950s

“Michaels Property has been working on this for quite some time and helping to find potential buyers,” Mr Smith explained.

“It was decided we would work together on it to get the best result for the client.”

Previous plans for the site included converting it into a 1,700-capacity nightclub.

Colchester Council rejected the plans and were backed up by a planning inspector in 2008 when he said club-goers would cause late-night disturbance to residents.

In 2018, musical director Nigel Hildreth suggested the building should be turned into a concert hall, saying the town was lacked a suitable venue for large-scale symphony orchestras and even rock acts.