Shopping centres throughout the UK are now beginning to recognise the beneficial effect a strong and diverse offering and have begun to invest in their leisure offering. This has seen the Capitol Shopping Centre in Cardiff launch preparatory works for the re-opening of its cinema, which has stood empty for more than 10 years.
Moorfield Group and Plus Shops Retail have announced a £1 million refit will take place in order to modernise the five screen cinema which, upon completion, will be leased by Premiere Cinemas. This will be the cinema company’s first Welsh outlet, with other facilities existing in Romford, Kings Lynn and Worthing, and will be taken on a 25 year lease.
Paul Jarvis, speaking on behalf of Premiere Cinemas, says; “It is with enormous pleasure that we are to open a site in Cardiff and we hope to emulate the success we have enjoyed elsewhere.
“We pride ourselves on offering a more personal service and viewing experience than other operators whilst also incorporating great value.
“We have the very latest cinema technology, with Sony 4K digital projectors and Dolby surround sound plus our range of drinks and snacks are priced competitively.”
Built in 1990, this will not be the first refurbishment seen by the Capitol Shopping Centre, as it underwent extensive works in 1998/1999. However, the closure of the cinema only two years later, when ODEON chose not to renew its lease, came as a blow to the community and saw retailers abandon ship during the ensuing recession.
Thankfully, along with the news of the cinema’s refurbishment, owner Moorfield Real Estate Fund (MREF) has been able to confirm a raft of tenancy agreements. Anchor tenant H&M has agreed to a further three year lease, whilst businesses such as Poundworld, Nutrition Hub, Muskaan Beauty and Euro Gallery are soon to make their Capitol Shopping Centre debuts – one of the strongest letting performances on MREF’s record since it took ownership of the centre in 2005.
Investment and asset manager at MREF, Mark Holmes, believes the opening of the new cinema will create further opportunities for the retail destination down the line.
He says; “It has been our aspiration for some time to re-open the cinema at Capitol and enhance the leisure offer at the centre.
“We are delighted that Premiere Cinemas will be up and running by Christmas.”
Works have already begun at the cinema, which will see the 755 seat multiplex upgraded with the latest in viewing technology along with the installation of a licensed bar. Assuming all runs to schedule, the cinema should be open to the public by December, allowing the Capitol Shopping Centre to attract even higher volumes of footfall for the traditionally busy Christmas trading period.
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