Campaign 'not over' to save Edinburgh's Odean cinema despite site failing to attract buyer

Owner of the Clerk Street cinema, Duddingston House Properties (DHP), confirmed that the property agents acting on its behalf had been unable to find a buyer following a four-month marketing campaign.

DHP wants to demolish parts of the historic B-listed building and turn it into a hotel, but the plans were put on ice by a Scottish Government reporter after appeals by Historic Scotland, which said the building should be marketed again in the hope of finding a use which would avoid any demolition.

Three offers were received, all of which were for less than half the independent valuation of 2.93 million.

Director of DHP, Bruce Hare, said: "The reporter's final comment was that it remained possible that our proposal for an arts hotel could represent the best opportunity for the former Odeon cinema to be brought back into use. That now looks likely to be the case.

"Every avenue has been explored, so we have now applied for the final consent necessary for our scheme."

However, chair of Southside Community Council, Hilary McDowell, said the community council would oppose demolition. "It's been fairly obvious that Duddingston House Properties weren't really looking to sell this building," she said.

"We are disappointed that they have not accepted any of the offers made."

Tom Pate, of the Save the Odeon Campaign, added: "We expected and planned for this. The truth is that the Odeon failed to find a seller, not a buyer. This building could have been sold and back in productive use years ago, only DHP has prevented that.

"We always knew there would be a stage two of our campaign and it begins now."

DHP said none of the bidders would match a reduced price of 2.5m, or increase their offers, and underlined that the building was still available for sale.

Among those to have submitted a bid was the New Victoria project, which seeks to bring the building back into use as an arts centre.

Operations director, Sarah Colquhoun, said: "We don't feel that the building would be worth anywhere near the level that DHP have pitched their asking price at.

"We are disappointed but we are certainly not going to give up on the building."