An entrepreneurial group of Southfields residents are one step closer to realising their dream of re-opening the cinema that was closed over 40 years ago after they put in a formal offer for the old Southfields picture house.

As reported in the Wandsworth Guardian some weeks ago, Southfields resident Robert Richman was trying to galvanise the community together to try and bring back to life the old picture house in Wimbledon Park Road that closed in 1968.

After holding a meeting on November 23, The Southfields Plaza Steering Group was formed and over a six day period, they received over £500,000 of pledges and an angel investor also agreed to underwrite their offer.

Mr Richman said of the plan: “We want to make a profitable local business owned by local people that generates a return on investment for its shareholders and second, a really great leisure facility in the heart of Southfields that meets the needs of the local community and adds real value to village life.”

The original cinema was built in 1917 and opened as the Lyceum Cinema, was open until 1968 before closing, and was re-opened as a Rileys pool hall until it was also forced to close earlier on this year.

But Mr Richman along with a number of other Southfields residents was concerned over the possibility of a supermarket or bar chain taking the premises and so moved swiftly to create their business plan and submit their formal offer.

Mr Richman has been pleasantly surprised with the response his idea received from local people, and how quickly things have moved in the last month.

He said: “It has really opened my eyes to the community spirit that is around in Southfields. The cinema will be great for Southfields and hopefully a catalyst for other good things to happen in the area.”

The group still have renovation costs of around £1.5m to stump up to create their vision of an independent cinema in the mould of the Electric in Notting Hill.