The Grade II-listed building has been listed by estate agent Symonds and Sampson today for offers in excess of £1.74million.
The sale includes the art deco cinema/theatre – which just last month was named one of the ‘most breath-taking cinemas in the world’ by the Financial Times – along with the two street-facing retail units and two residential apartments above.
The building is owned by businessman Alasdair Warren, who bought it in 2019.
According to the listing, it can be sold as a whole or in three separate lots as follows: LOT 1: Electric Palace theatre/cinema (freehold or long leasehold), including all trade assets and goodwill, as a going concern – offers above £1.1million. The 410 seat theatre comes with three bars.
LOT 2: Two retail units (long leasehold with share of freehold) – offered together (and not separately) – offers above £190,000.
LOT 3: Two residential apartments above retail units (long leasehold with share of freehold) – offered together (and not separately) – offers above £450,000.
It states: ‘Bridport Electric Palace provides a unique opportunity to purchase a fully restored and fully operational art-deco theatre and cinema.
READ: Venue named amongst the best in world nominated to become Asset of Community Value
‘With its beautiful original interior, it is one of only a handful of 1920s theatres that are still operating in the UK (outside London) and was recently listed by the Financial Times as one of the ‘most breath-taking cinemas in the world.
“Standing proudly in the heart of Bridport, the Palace is one of Dorset’s most treasured cultural landmarks which is now offered for sale as a thriving going concern, with established goodwill and a full future programme of events, including film, comedy, live music, the spoken word and theatre.
‘Bridport is fortunate to have not only a cultural gem, but an architectural one too. This Grade II listed masterpiece is a rare surviving example of 1920s entertainment architecture at its most evocative.’
It describes the centrepiece of the building as ‘the collection of stunning murals painted in the art-deco style that lend the building a unique sense of character, history and theatrical flourish. These decorate the foyer, stairs and landing and were designed and painted in 1936 by George Biles, the local brewery sign writer.’
The Electric Palace celebrates its centenary this year, having first opened on June 14, 1926 to an audience of more than 500 people and was originally conceived as both a cinema and an opera-style theatre.
Just last month, Bridport Town Council said it was registering the cinema as an Asset of Community Value – land or property that furthers the social wellbeing or interests of the local community, such as pubs, libraries, or community centres.
Designated by local councils under the Localism Act 2011, ACV status allows community groups a six-month pause (moratorium) to bid on the asset if it is sold.
The benefit of registration is that, should such a community asset be put up for sale, local community groups can be given a first-priority opportunity to make a bid to buy it on the open market. It also means that Dorset Council may use a building’s listing as a material consideration in any application for a change of use.
The retail premises are home to café and bar Goose and Badger and interior design shop Fitzgerald Green. The listing states that the two retail units are let and providing an annual income.
More to follow.
The Bridport News has contacted The Electric Palace for comment as well as Goose and Badger and Fitzgerald Green.