Cult London cinema threatened with closure amid battle with landlord
Cult London cinema threatened with closure amid battle with landlord
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A cult London cinema has warned it is at risk of closure and faces the threat of redevelopment by its landlord. The independent Prince Charles Cinema off Leicester Square, which has been praised by the likes of filmmaker Quentin Tarantino, said it believes its landlords are using “significant financial resources to intimidate us”.
The cinema was founded in 1962 and attracts more than 250,000 customers a year. It said on Tuesday that efforts to renew its lease, which is due to expire in September 2025, at a market rate, have been challenged by its landlord, Zedwell LSQ Ltd, and its ultimate parent company, Criterion Capital.
Criterion is owned by billionaire developer Asif Aziz and owns a number of hotels and other properties in the West End. The cinema said the landlord has also demanded a new clause which, if triggered, would leave the cinema homeless with just six months’ notice.
It added that Criterion has continually rejected requests for negotiation. In a petition signed by more than 18,000 shortly after it launched, it said it believes the landlord is seeking planning permission to redevelop the cinema site. A spokeswoman for the cinema said: “We are one of the last remaining independent cinemas in central London, receiving no public funding and attracting over 250,000 customers a year at a time when the industry is struggling.
“We are disappointed that our landlords Zedwell LSQ Ltd and their parent company Criterion Capital have demanded the inclusion of a break clause that would require us to vacate the premises at six months notice, should they receive planning permission to redevelop the building, which we interpret as a clear intention to do so.
