Rutland Kino is a step closer to being realised as it announces it has hit 50% of its investment target of £2 million.

The project is the brainchild of two local residents – Andrew Robinson, retired CEO of Harkness Screens and former Oakham School student Genevieve Margrett.

The pair are aiming to bring a two screen boutique cinema with a café, bar and lounge space to the Victoria Hall in Oakham's high street.

As Nub News reported earlier, a deal to take over Victoria Hall was announced in June, which would see 89 seats in screen one and 30 seats in screen two.

It would be the first time Oakham has had a cinema since the 1980s, though Oakham County Museum often stages films, as it did earlier this week.

Genevieve Margrett said: "There's been such a positive reaction to the idea since we announced the plan a couple of months ago which has been so encouraging",.

"It's been fantastic to talk to local residents about what they'd like to see from the space and discussing everything from film choices to accessibility needs and additional community opportunities. It's also been heartening to hear from many potential investors".

The Rutland Kino directors are hoping to hit their fundraising target by the end of September in order to progress their project to the next phase and be on track to open in late 2022.

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Andrew Robinson commented, "Rutland Kino should appeal to local residents looking for an equity investment opportunity which can also benefit their local community.

"The business is registered under the Enterprise Investment Scheme, which offers substantial tax benefits to investors. Ideally, individual investors will commit £50k but there is a place for smaller investors. For those interested there is a comprehensive business plan."

Anyone interested is encouraged to head to www.rutlandkino.co.uk to find out more. Locals who want to stay up to date with the cinema plans are encouraged to visit the site for regular updates in the latest news section.