From what I understand from these posts, it looks like two cinema chains were looking into converting the Capitol back into the cinema, but that there were likely to be planning conditions imposed which made the project unfeasible.

The local community want a cinema; the cinemal chains want a viable business premises, so it might be an idea to get together with one of the cinema chains and discuss what requirements they need so that We (as a community) are better informed when we lobby the Council to give assurances which will minimise these risks.