Philip M Murphy Murphy, Head of Property and Transactions at Evolve Estates, which is part of M Core and is leading the JV scheme, said: “It’s great to have agreed heads of terms for the cinema space, and the joint venture solicitors are significantly progressed in formalising the legal agreement with an operator.
“During the initial design stage, the JV whittled down cinema operators to three – The Light, Everyman and Reel – and while it’s not commercially prudent to advise on deal specifics until legal documents are signed, I can confirm the operator is every bit aligned with the renowned and ever progressive Three Spires we are developing.
“We wanted the operator to have a name as big as Lichfield, for it to be synonymous with quality and for the interior experience really wow whilst having a pre-showing drink or bite to eat. From visiting a number of its London sites, I know it offers all this and more.”
As well as the cinema, the Three Spires owner has also redesigned the wider proposal to include more leisure space and is in detailed discussions with a nationally known cocktail bar and a further leisure operator to bring their brands to the city for the first time.
In April 2023 Evolve Estates and Lichfield District Council agreed on terms for the joint venture and they confirmed that they are very close to signing an operator following in depth tender interviews and submissions, in the hope of starting the transformation of the former Debenhams store in Q3 once planning is submitted this summer.
A boutique cinema complex is now being developed within Lichfield’s former Debenhams building.
The scheme will see a four-screen cinema attraction created within the former Debenhams store in Three Spires (formerly the Three Spires Shopping Centre).
Featuring a mixture of screens – small (with up to 48 seats) and large (with up to 120 seats) – and food and beverage and retail units, the scheme will follow the boutique cinema model which runs successfully throughout the country.
Evolve, which is part of the M Core group and has a £300million property portfolio, will invest on a 50/50 basis with Lichfield District Council.
The second stage of the development will see the regeneration of the adjacent Birmingham Road Site with food and beverage and high-quality office accommodation together with a new car park to replace the existing multi-storey facility.
Cinema update May 23 for the website by The LaunchBox