Moorgarth Group’s multiplex cinema at Bolton’s Market Place has been approved by Bolton council.
Moorgarth acquired the Bolton shopping centre at the end of last year, with financial backing from a South African parent company, for £23m as part of the break-up of the Agora Shopping Centre fund at the end of 2013.
The Leeds-based investor now plans a £15m, nine-screen cinema and restaurant extension.
Moorgarth Group chief executive Tim Vaughan said: “We will be transforming this shopping centre by rebalancing the retail and restaurant mix in the scheme and breathing new life into it with a wider and exciting fashion and restaurant offer. This planning decision now paves the way for work to begin in earnest. We have agreed and concluded a deal with an exciting international cinema operator and we expect to make a formal announcement imminently.
“We want to give the people of Bolton and surrounding areas a reason to shop and spend their leisure time here. Already we have committed to the cinema, which will open in early 2015.
“As part of our partnering with the council we have agreed to offer our shoppers 90 minutes of free car parking and this has created a year-on-year uptake in usage of more than 18%. Over the coming months we will be making a series of exciting announcements on new tenants that will help drive footfall, secure new fashion-focused retailers and increase dwell times.”
GCW and Fawley Watson Booth have been appointed as joint agents on Market Place.
chris.berkin@estatesgazette.com
