IT has stood as a community axis since 1939, an eye-catching, clean-lined art deco venue for the people, before lying derelict for almost a decade.

Now, the "currently uninhabitable" shell of a once-bustling cinema and bingo hall in the Scottish capital is in with a chance of a fitting new lease of life.

The former Royal George Cinema in Bath Street, Portobello, has been placed on the open market after a series of unsuccessful residential planning applications that also included partial demolition of the building.

The Friends of the George community group has prepared a fresh proposal to "retain and upgrade this important listed building and operate it as a publicly accessible cinema and cultural venue".

It produced an earlier appraisal with its strategic partners Out of the Blue arts organisation and Queen Margaret University and while its separate £3.2 million refurbishment costing of seven years ago needs updated, it gives an idea of the money involved.

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Offers are invited through the agent Annan, which said: "The premises offer the potential for a variety of uses such as a theatre, cinema or entertainment venue, hospitality and restaurant, retail space or community resource all subject to obtaining appropriate consents.

"Other uses including Residential, Student Accommodation or BTR accommodation might also be possible, again subject to receipt of the required consents."

The Herald: The building is on the open marketThe building is on the open market (Image: Google/Newsquest)

The group told The Herald it had made an initial verbal approach: "Friends of the George have formally noted interest in acquiring the building, as a 'restoring purchaser'.

“Linked to that, we have commissioned a valuation, with a view to submitting a formal offer thereafter.

“We hope to secure ownership so that we can progress our plans to restore and operate The George as a community-driven independent cinema, and beyond that as a multi-purpose venue offering facilities for recreation alongside training, employment and professional development in Scotland's expanding moving image industries.

“Our vision for The George seeks to complement, not replicate, other community facilities in Portobello to serve an ever-expanding population and develop a resilient town centre."

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The owner, Buckley Building, said it has not yet had "any official written notes of interest or discussed possible offer terms with any party".

The group also envisages workspaces, events and a café and bar within the landmark that was designed by celebrated Scottish cinema architect T Bowhill Gibson.

It said the C-listed building was "unexpectedly" put up for sale, adding: "Naturally our current efforts are focussed on acquiring ownership, or working in partnership with an owner who is open to repairing and bringing the building back into public use."

The group also said: "For now we feel we are setting ourselves realistic and realisable goals in terms of the funds required and we can take great confidence from the success of a number of other similar projects.

"We are urgently taking steps with a view to securing ownership or partnership with an owner in order to take forward our exciting vision."

If realised, such a facility would also have purchasing power and provide employment, and, while new homes are also needed, the friends say: "It takes a lot more than houses to make a community."

Also this week, deputy business editor Scott Wright asks what Scotland's troubled ferry service can learn from Croatia, a country served by an extensive ferry network. "It did not disappoint", he writes.

Elsewhere, a toast, writes business correspondent Kristy Dorsey, as Old Pulteney unveiled its oldest expression to date, a 45-year-old single malt titled Bow Wave, that will be auctioned for charity.