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A former cinema in Risca which attracted interest from Caerphilly County Borough Council appears to have been sold before it went to auction – but the buyer remains a mystery.

Cabinet members held a behind-closed-doors meeting last week to discuss the potential acquisition of the Risca Palace building at 75 to 77 Tredegar Street.

Today, the Palace comprises a convenience store, Risca Library and office space.

According to details published online by auctioneers Allsop, Risca Palace was listed with a guide price of £1.1 million, but was sold prior to going under the hammer on Wednesday July 17.

Allsop did not disclose the sale price online or name the successful buyer.

But in the run-up to the auction, Caerphilly Council was interested in acquiring the Palace, and decided at a cabinet meeting on July 17 to exclude the press and public from hearing about the plans.

Releasing information “at this stage could prejudice the council’s ability to purchase the property at a reasonable market value”, Robert Tranter, the local authority’s head of legal services, wrote at the time.

The future of Risca Palace is due to be debated a second time, this time by all councillors, at a meeting on Wednesday July 24.

Again, Mr Tranter has recommended councillors vote to hear the matter in private.

Caerphilly Council already has strong ties to the palace, leasing part of the building to serve as a library for the local community.

According to auction information published by Allsop, the council currently spends £107,000 a year to rent the library and some office space – and this is due to rise to £124,000 in two years’ time.

However, the yearly income in rent for the convenience store section of the Palace is estimated at more than £61,000.

Caerphilly Council was approached for comment.