The dream to restore an old picture house could still be on track, despite a residents’ group still waiting to hear whether its offer has been accepted.

The Southfields Plaza Steering Group – formed by a group of residents – made an offer for the old Riley’s snooker hall in Wimbledon Park Road in November with the view of converting it into a cinema, which is what it was used for more than 40 years ago.

However, its offer has been matched by a rival bidder and it may be put into a contract race for the deeds to the building.

In planning terms, the site’s current use is classified as for entertainment purposes, meaning the proposals could potentially be approved without planning permission.

Members of the group say they are hoping Wandsworth Council does not change the building’s use classification, or it could end their dream of an independent cinema.

The group’s acting chairman Rob Richman said: “If the building becomes what we want it to be, it will change the area forever.

“As long as the council holds its nerve over the building’s use, we will have an offer accepted I am sure.

“We are touching distance away from getting to where we want to be.”

If they are successful with the bid, the group would need no planning permission and will be able to begin work as soon as possible.

The plan was born after Mr Richman confessed to having one of those “Jerry Maguire moments” – a moment of enlightenment as featured in the Tom Cruise film – about the cinema, and immediately held a public meeting about the idea in November, from which the steering group was formed.

Less than a week later the group had raised £630,000 from pledges and donations from residents and were helped over the final financial hurdle with an angel investor agreeing to underwrite their offer.

Southfields councillor Guy Humphries has been impressed by the way residents have come together to try to make the idea a reality.

He said: “This is what a community is all about. If you are looking for the big society, this is it in action.”

Visit www.southfieldsplaza.co.uk to find out more.