THE Kinema Restaurant in Dunfermline is back on the market at a reduced price of offers over £599,000.
The international buffet-style diner on Carnegie Drive – the building was once the city's most famous night spot – has been closed for more than three years and despite lots of interest in taking it over, a deal has yet to be done.
It was previously up for sale in January with a price tag of offers over £795,000, albeit that did include the contents which are now being sold separately for £100,000.
One potential buyer wasn't able to proceed and estate agent Colin Jenkins, of Amazing Results, explained: "That was a shame as it was going to be back as a buffet-style restaurant.
"It's back on the market and it's been split into the building and the contents being sold separately.
"We've had a decent amount of enquiries, all of which have been restaurant-based. Different types, but all restaurant-based.
"Everyone that has enquired has asked about the equipment so it'll probably end up with a deal for the whole thing."
The 'world buffet-style' restaurant offered cuisine from around the globe, including Chinese, Italian, Thai and Mexican, but was one of the early victims of the pandemic.
In March 2020 all hospitality businesses were ordered to shut by Prime Minister Boris Johnson, in a bid to halt the spread of Covid-19, and it never re-opened.
Colin told the Press that the owners had "left everything" and added that "you just need staff and food to make it a restaurant again".
The contents – "everything you need to open a stunning, refurbished, fully upgraded and fully equipped 250-seat restaurant / bar" – are being sold for an additional £100,000.
He added: "It's a better price bracket so it'll hopefully attract more people. Certainly there are a lot more financially qualified buyers out there, and not just for this property.
"There are a lot of cash-rich individuals that are now looking at commercial properties again.
"I suppose that's a reflection on prices as well, they've stayed the same or come down so they're more realistically-priced as well."
Of course the building is better known to generations of Fifers as a ballroom and concert venue.
At the heart of the city's entertainment scene for decades, it first opened its doors as a cinema in 1915 and was turned into a music venue in 1938.
An iconic night spot, where so many West Fife couples met 'at the dancing', it was extended in 1964 and became one of Scotland's most important venues for live music.
The biggest acts of the day played there – although former manager Cecil Hunter famously turned down the Beatles – including David Bowie, Elton John, Billy Connolly, The Supremes, Big Country, Madness and The Who.
It latterly became Night Magic, Hollywood Boulevard and then Velocity, which closed in 2009.
The building remained empty until Kirkcaldy businesswoman Yanli Zhao received planning permission in October 2016 to turn it into a 'world-buffet-style' restaurant.
After a major refurbishment, it opened in December 2018 with the creation of around 40 jobs.
Storm damage, which saw masonry fall from the building in May 2020, led to scaffolding being erected and repairs carried out with a completely new roof, with a 20-year guarantee, installed in 2021.
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