Cinema entrepreneur James Hannaway: 'There is still a way to go'

Mr Hannaway, the founder of the Rex cinema in Berkhamsted, now has around £870,000 in the kitty - just £130,000 short of the purchase price needed to buy the art deco building in London Road and get it up and running as a working cinema. Mr Hannaway said: “By degrees, it is becoming harder to hear myself saying 'we are closer by the day - keep sending your money'.

“We do still have a way to go, and while the current owners are within their rights to seek new buyers, we have to move at this pace and faster. When we get to within sight of the last few pennies, The Rex will put in its rainy day £30,000 cash to see it done."

In just seven weeks the people of St Albans dug deep into their pockets and raised around £840,000 for the scheme. More than £162,000 has been added to the grand total over the past fortnight.

While reiterating his thanks to all investors, Mr Hannaway extended his gratitude to the Review for our continuing support of the campaign through consistent and up-to-date coverage.

Mr Hannaway said: “I am more and more overwhelmed by your faith and determination to see this cinema come true. Thank you and well done, so far. We are now so close. At this rate your real unconditional money will secure the site within the next few weeks.”

The building is once again under offer, complete with planning permission for 14 luxury flats and an underground car park. But Mr Hannaway insists the site’s owner, Wattsdown, has not given up on his proposal.

Make your cheque payable to The Alpha Cinema Ltd/The Alpha St Albans Ltd, and send to The Alpha St Albans, The Rex Cinema, Three Close Lane, High Street, Berkhamsted HP4 2FG.