The Palace Cinema in Gorleston hits the market for £500,000

Located in Gorleston-on-Sea, The Palace Cinema in the High Street has hit the market for £500,000 as the owner looks to "reduce his workload."

The business is up for sale with Christie and Co. alongside its sister site, The Palace Cinema and Bingo Hall in Felixstowe, which is available for £800,000.

There are four screens (Image: Newsquest) They are available either individually or as a package and are offered for sale as going-concerns, with opportunities for new owners to further develop and build on the existing trade.

Patrick Duffy, managing director at Palatial Leisure Limited, said: "I’ve been in the leisure, entertainment and gaming business for more than 50 years and the time is now right that I look towards reducing my workload, hence the decision to sell our Felixstowe and Gorleston properties.

"At the same time, we are making considerable investment into our principal asset, The Great Yarmouth Palace, which has the benefit of a 1968 gaming licence, particularly in preparation for the new regulations which come in to play in July, given our ability to capitalise on the sports betting slots allowance."

The site underwent a big renovation in 2017 (Image: Newsquest) The small town Art Deco-style cinema opened in 1939 with 942 seats in stalls and a balcony.

It closed in 1964 and was converted into a bingo club, which operated until early 2012.

In June 2017, renovations began to become to transform the site into a four-screen, 403-seat cinema, which opened in October of that year.

Ed Sheeran and Danny Boyle at the East Anglian premiere of Yesterday (Image: Newsquest) The cinema hosted the East Anglian film premiere of Yesterday in 2019, with director Danny Boyle and writer Richard Curtis returning to the seaside town to pay homage to the film.

Ed Sheeran was a surprise guest at the premiere, also starring in the film alongside stars Himesh Patel and Lily James.

Great Yarmouth, Lowestoft, Southwold and Halesworth all featured in the film.