BOURNEMOUTH councillors will not rush into an Imax replacement until the economy improves – no matter how long that takes.
The controversial Waterfront building has now disappeared from Pier Approach and the focus will soon switch to the creation of an open-air events arena in its place.
But council leader John Beesley is refusing to speculate on how long this interim arrangement could be in place.
He insisted it would be “irresponsible” to rush into a long-term decision when the market was so depressed.
“I often say Bournemouth can’t break the banking trend and the ability of leisure operators to raise finance through the banking system and that is the major issue, as it is for leisure operators and developments up and down the country at the moment.
“That’s why there hasn’t been much interest so far because it is ability to raise finance which determines whether or not a site can be redeveloped.”
He said Bournemouth council was right to buy and demolish the Waterfront building and he said it was likely the site would be incorporated into the Town Centre Master Vision and developed by the Bournemouth Development Company, who would take public opinion into account.
“We had 3,000 replies to our public consultation and we are very conscious of what the public’s aspirations are for the site.
“A leisure-based development is the most likely to come forward.
“We won’t get the best value out of the site if we go too early.
“It’s tempting to rush ahead and stretch our very limited finances but that would not be the right thing to do.
“We need to wait for those market conditions to improve.
“The council needs to make sure that any risk is shared hence Bournemouth Development Company being the most likely outcome.
“It would be very high risk of the council to go ahead on its own and develop a leisure scheme.
“That’s why we want to wait until the market conditions are right, when we can ask the private sector and when there’s more of an appetite for leisure schemes.”
All our Imax stories, pictures, videos of the demolition, timeline and an infographic at bournemouthecho.co.uk/imax
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