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Unfortunately, as it isn't listed, the owners can do exactly what they please with the building. They need permission for change of use but can effectively knock it down if they choose.
The only thing the state can do when a building is not statutorily protected is to serve repairs notices, do emergency repairs if a building is likely to be a danger to the public, or compulsary purchase. None of these courses of action are to be taken lightly and can be dragged out on appeal.
Regarding change of use, a cinema is in the same planning category as a dance hall (something Jumping Jaks have made use of), so that could potentially make a short-term Mayfair replacement plausible.
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