Regal Cinema in Youghal sees asking price slashed by over €300,000

Historic 1936 Art Deco venue re-listed after closure, with local business leaders hopeful for long-term reopening in Youghal

The Regal Cinema in Youghal, which was first listed for sale at an asking price of €600,000 in 2024. File picture

The price of a recently restored Art Deco cinema in East Cork has dropped by more than €300,000 in just two years.

The Regal Cinema in Youghal, which was first listed for sale at an asking price of €600,000 in 2024, was re-listed this week at €295,000, marking a significant drop from its original asking price.

Explaining the drop in price, selling agent Adrianna Hegarty of Hegarty Properties said it comes following the 439 sq m cinema’s closure in January with “no trading figures” available to prospective buyers.

“The cinema was open and trading at that point [when originally listed] so we’re selling it as is — it's because there are no trading figures now; you buy it as you see it,” said Ms Hegarty.

With a history dating back to 1936, the landmark venue replaced what was the Hurst family’s second cinema in the town, The Hurst Picture Palace, which was destroyed in a fire in 1935.

It quickly became known as a staple in Youghal’s town centre, having achieved national recognition for hosting the Irish premiere of Moby Dick in the 1950s.

The cinema later underwent extensive renovations in 2017, seeing the property restored to a dual-function venue with capacity for more than 280 people.

On its first floor, the Youghal venue has a fully equipped bar, which can accommodate up to 35 people, and an upper hall mezzanine with an additional 23 premium seats. File picture: Dan Linehan

The property, which recently operated as both a cinema and wine bar, includes a concession area with original terrazzo flooring and three screen rooms on ground floor level — one with 133 seats, another with 63 seats and a third, which serves as a function room, that has capacity for a further 30 people.

On its first floor, the venue also has a fully equipped bar, which can accommodate up to 35 people, and an upper hall mezzanine with an additional 23 premium seats.

Speaking to The Irish Examiner, president of Youghal Chamber of Tourism and Development, Kay Curtin said while it was “disappointing” to see the closure of the venue, business continues to thrive in the coastal town.

“I wouldn’t say this is a bad omen for Youghal,” said Ms Curtin.

“Obviously it was disappointing to see it close. We had heard it was only for a month, but with everything going on, it’s very hard [to run a business] at the moment.

The property, which recently operated as both a cinema and wine bar, includes a concession area with original terrazzo flooring and three screen rooms on ground floor level — one with 133 seats, another with 63 seats and a third, which serves as a function room, that has capacity for a further 30 people. File picture

“There is a great opportunity there with the cinema, it’s absolutely beautiful in there, but with how easy it is to get a film at home, a lot of people don’t want to come out, especially with the bad weather.

“However, development-wise and building-wise, there is a lot of work going on in the town, so we are on the up here in Youghal.” 

Ger Flanagan, chairman of the Youghal Business Alliance said the closure of the venue is a “huge loss” to the town.

“Being honest, I think the asking price of €295,000 is a more realistic price,” said Mr Flanagan.

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“It’s been a great venue [over the years], and the drop is more of a reflection on the developers more so than the cinema itself.

“Youghal was the birthplace of moving pictures in Ireland, I know there is interest in the property, so I’m confident that the Regal Cinema will reopen in the long term.

“Obviously this is a huge loss to the town, and for us at the Youghal Business Alliance — it was an events centre as much as a cinema.”