HOPES that a defunct cinema could be restored to become a community centre have been dashed.
The Highams Park Forum has campaigned for years to bring the former Regal Cinema back into use, but their efforts have been blocked by the building's landlord.
The group claim the building in Hale End Road could have helped regenerate the area by providing a space for arts and crafts produced in the area to be sold.
It was also hoped that films could once again be shown, but now looks likely to remain empty as Laudvale Properties are said to have refused to entertain proposals from the society or Waltham Forest Council to lease the building.
The forum's chairman, Oliver Shykles, said: "It would be great to see some regeneration. There's a lot of potential but because the owners are so unhelpful there's not much we can do.
"It's awful news for the area though because the road looks a mess. It's run down and unloved and this was our chance to change that."
The Regal was a focal point for the community when it opened in 1911 as the Highams Park Electric Theatre, before closing in 1971.
It then reopened as a bingo hall, which was eventually turned into a bar and nightclub.
There are three main areas inside the Grade II-listed building, one of which is currently in use as a snooker hall.
The two remaining sections have been empty since the Regal bar and nightclub were repossessed.
Hale End and Highams Park councillor Paul Braham had led attempts to negotiate a lease with Laudvale, which he said would only consider offers of around £25,000 for five-years.
He said: "[Council] officers were completely stonewalled by them, they didn't get one reply.
"The front of the building is an absolute treasure. It could be beautiful but it's in desperate need of tender love and care.
"We're left with a building which could be key to the regeneration of the area but is just left to decay."
"We had a lot of interest from local groups and had a proposal to run the cinema a few days a week but now we're left without any hope in doing that."
The Guardian has been unable to contact Laudvale.
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