THE OWNERS of a cinema destroyed in a fire are selling the building to a local company which intends to rebuild it.

The Lyme Regis Regent cinema was destroyed in a devastating blaze in March 2016.

At the time, owners WTW-Scott Cinemas said it 'fully intended' to rebuild it, but has taken little action in the five years following.

The company has now revealed it has accepted an offer from an unknown local company that wishes to retain a cinema on the site.

A spokesman for WTW Scott Cinemas said: "There has been much speculation regarding the future of The Regent Cinema in Lyme Regis in recent weeks and we realise we have not made public recent developments.

"The company does not wish for the cinema to remain in its current condition following the devastating fire, and many of you will have read that in recent months we have been in discussion with Lyme Regis Town Council about becoming involved in a rebuild of the cinema.

“They were approached as having faced a hugely challenging last 18 months as a consequence of the Covid-19 pandemic and the future remaining uncertain, a freehold rebuild project of this size in the immediate future for our company is going to be very difficult, particularly on a cinema that was rarely profitable."

Last month, WTW-Scott Cinemas offered the site to Lyme Regis Town Council as a community asset, an offer which was turned down.

The owners said it was highly unlikely they would be in a position to consider rebuilding the cinema for a considerable length of time.

The spokesman added: "Following the discussions with the Town Council we received an approach from a local company who wish to retain a cinema on the site and they have made an offer which has been deemed acceptable.

"The company does not wish for the cinema to be left as it currently is for any longer than it needs to be, consequently the offer by a local company to take on the rebuild has been accepted.

"At present we remain in confidential talks with the company and have shared with them the various sets of plans we had drawn up for the cinema and remain on hand to offer cinema operator expertise should they wish to use it.

"The fire was without doubt the worst moment of our company's history. To the project manager who had overseen the project, the Director who had owned the building since the 1970s and was in tears as he watched firefighters battle to save it, to all the staff who lost their jobs in the following weeks, and to all those who used and loved the cinema we are sorry that we have not been able to offer better news but we wish the new owners success in their efforts to bringing the building back to life."

The spokesman added that since the company is currently in legal proceedings, it is unable to make any further comment at this time.