He added: “The last thing Abbeydale Road needs is a non-independent chain serving heavily discounted beer.”
True North plans to collaborate with tenants the Creative Arts Development Space (CADS), who have occupied the cinema since 2017, for a two-year restoration project.
The charity had planned to buy the building after winning a £300,000 Community Ownership Fund grant, but ran into a legal dispute with the previous owner.
True North said CADS was “fully supportive” and “pleased that the building will be locally and independently owned”, and had shared its building surveys to support the new owners.
Its basement bar Picture House Social will close in March and reopen after refurbishment in May.
The venue’s “transformation” will include the balconies, backstage areas and dressing rooms.
