THE wrangle over Bournemouth’s Imax could be closer to a resolution after an administrator was brought in to negotiate over the future of the giant-screen cinema.

Bournemouth council intends to “substantially demolish” the Waterfront complex on the Pier Approach – but first has to gain possession from teanants in the building.

It was pursuing Sheridan Millennium Ltd, former operator of the Imax cinema, for a total of £45,268 in service charges, rent, costs and compensation over the cinema unit.

Now Sheridan’s lender, the Anglo-Irish Bank, has stepped in and appointed property adviser Allsops to negotiate over the unit. A statement from Bournemouth council said Sheridan had been “unable to pay outstanding rent and service charges”.

Sheridan, which built the entire Waterfront building and ran its ill-fated Imax, had at one point insisted it still intended to fight on to re-open the cinema.

Bournemouth Borough Council’s head of property services, Gary Platt, said of the announcement: “This doesn’t change our plans to secure the two remaining leases, namely the Imax cinema and a smaller, unused unit within the Waterfront complex. It simply means that our negotiations with regards to the Imax unit will now take place with Allsops on behalf of the Anglo-Irish Bank, instead of Sheridan.

“We remain hopeful of reaching a negotiated settlement and have already met with the administrator to progress discussions”.

If the council cannot negotiate the surrender of the leases, it intends to seek compulsory purchase orders.

Jon Gershinson of Allsops said: “We are fully aware of the significance of this particular building and the desire of Bournemouth’s residents that we make swift progress.”

The involvement of the administrator does not affect another, empty unit in the building which is leased to another Sheridan company.

No one from the Belfast-based Sheridan Group was available for comment yesterday.