Cineworld – Europe’s second-largest cinema operator – has agreed to anchor a new leisure-led mixed-use development in Warrington, Cheshire.
The deal will include the opening of a 13-screen cinema complex providing 2,500 seats in 2020 at the £100m+ Time Square scheme, which is being delivered by Warrington Borough council and development manager Muse Developments.
In addition, the development will deliver new retail and restaurant space and new offices for the council, while the old market building will be replaced by a new continental European-style market hall. A 1,100-space carpark has recently been completed as part of the project.
The development partners have also appointed Metis Real Estate Advisors as Time Square’s leasing agents. The lease is for 25 years.
David Burkinshaw, development director at Muse Developments, said: “Securing Cineworld is an important first step in our leasing plans, one that not only gives real momentum to Time Square, but sets a great benchmark in terms of the quality and innovation visitors can expect.
“Working with Metis, who brings a wealth of experience, we are now focusing on the next stage of the leasing, which will secure a great mix of exciting F&B brands.
“Our intention is to create a great new destination that will complement the strength of Warrington’s retail offer, helping to attract new visitors to the town while ensuring residents no longer need to travel elsewhere to experience the very best in restaurants and entertainment.”
Metis Real Estate Advisors acted on behalf of Warrington & Co. and Muse Developments. Wareing & Partners represented Cineworld.
To send feedback, e-mail Louise.Dransfield@egi.co.uk or tweet @DransfieldL or @estatesgazette
