Prince Charles Cinema under threat of closure following dispute with landlord
Prince Charles Cinema under threat of closure following dispute with landlord
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Cinema faces closure after rent increase and break clause, which could see it homeless with six months notice. The Prince Charles Cinema in Leicester Square is under threat of closure following a dispute with its landlord. The establishment is a celebrated independent locale, running new releases alongside repertory screenings and rare prints of classic films. The Prince Charles Cinema, which opened its doors in 1962. is a beloved spot for filmmakers including Pulp Fiction director Quentin Tarantino and There Will Be Blood’s Paul Thomas Anderson.
One of the last remaining independent cinemas in Central London, the landmark draws more than 250,000 customers every year, receiving no public funding for its annual programme of over 850 films and events. The Cinema says its landlord’s “refusal of a reasonable rent offer” and the “intimidating inclusion” of a new break clause in its lease renewal, has left it “facing a threat of potential redevelopment”.
The break clause allows the landlord, Zedwell LSQ Ltd owned by Criterion Capital, to demand the Cinema vacate at six months notice should it find a suitable redevelopment opportunity. The Cinema has interpreted this as a clear intention to redevelop the building.
“The Prince Charles Cinema intends to tirelessly pursue legal proceedings to contest the landlord’s valuation, in order to secure renewal at market rate and safety from any redevelopment projects,” read a statement released by the company on Tuesday (28 January).