Home / Business and Economy / Rushden's Ritz: £800K Price Tag Halts Historic Hall Revival
Rushden's Ritz: £800K Price Tag Halts Historic Hall Revival
14 Apr
Summary
- Former bingo hall, The Ritz, returns to market for nearly £800,000.
- Development plans stalled due to prohibitively high development costs.
- Limited parking and uneconomical underground parking solutions were key obstacles.
An Art Deco building known as The Ritz, previously Flutters Bingo and Social Club, has been listed for sale again in Rushden, Northamptonshire. The current owner, Oliver Mcloughlin, is asking nearly £800,000 for the property, two years after purchasing it for £400,000. He cited the high cost of development as the reason for putting it back on the market.
Mcloughlin had initially envisioned transforming the 1936-built venue into a multi-use space. However, challenges arose, primarily concerning inadequate parking facilities. Attempts to incorporate underground parking were explored but ultimately found to be economically unfeasible, leading to a development stalemate. Despite these issues, improvements were made to a 240-seat theatre and the ground floor was reconfigured for entertainment, preserving the original foyer and bar.
While Mcloughlin expressed a desire to engage with the community and avoid demolition for housing, the project's financial viability proved insurmountable. Local groups had previously expressed interest in acquiring the building to preserve its historic features. The owner stated that modifications were necessary for the building to be utilized again.
