THE city centre's famous Reel Cinema may be knocked down and

replaced by a 10-screen multiplex.

The construction firm which owns the Reel chain is in talks

about swapping the outdated 1938 picture house, at Derry's

Cross, with a '21st Century' development.

The scheme, which needs planning consent, is in the early

stages but negotiations with the council, staff and 'other

parties' are continuing. It is understood the cinema will close

on October 2.

It has also emerged that developers have been eyeing the

neighbouring Plymouth Athenaeum, possibly as part of the cinema

development.

Although construction of flats and houses has been slowed by

the 'credit crunch', as detailed inside The Herald today, the

commercial sector is healthier.

But the Athenaeum today insisted it is not for sale and

intends to be in situ to celebrate its double centenary in

2012.

Loughborough-based 3R Construction and Property Development

owns the 16-cinema Reel chain.

Managing director Kailesh Suri today told The Herald: “We

will be developing and will have a new cinema on it.

“It depends on planning permission. We are in the

consultation stage.”

He said the aim was to 'take the cinema to the next

stage'.

“It needs modernisation. We have to bring it to the 21st

Century.”

Mr Suri said the new multiplex could have five, seven or 10

screens, depending on how many could be fitted onto the site

and 'on the market'. The current cinema has had three screens

since 1976, including the 582-seat main auditorium, the largest

in Plymouth.

Mr Suri would not be drawn on costings for the site, but

when the nearby Drake Odeon Cinema was demolished and replaced

with a casino, in 2003, it cost £7million.

The Reel Cinema, formerly the ABC, is the only one left from

the golden age of pictures when Plymouth boasted numerous big

screens and flea pits.

The Beatles famously played at the venue in the 1960s.

But it is now seen as out-of-date and has suffered from

competition from the Vue complex at Coxside.

A new multiplex would be welcomed by city centre traders

anxious for more attractions to draw in families.

Ray Robins, chairman of the Cornwall Street Shopkeepers'

Association and the Pannier Market Traders' Association, said:

“Anything that brings any kind of activity back to the city

centre has got to be good.

“We don't just want people to rush in, do their shopping and

rush out again – we want them to stop for a cup of coffee or go

to the pictures.”

Last week, The Herald revealed that Reel staff are

understood to be facing redundancy. Bosses are refusing to

confirm or deny this.

Meanwhile, Athenaeum president Jo Power said: “The Athenaeum

is not closing and we are looking forward to our 200th

anniversary in 2012.

“We have had developers interested in taking us over but we

are staying exactly as we are. People are interested in the

site but we are not selling.”