Muse Developments and the local authority’s economic development arm Warrington & Co have completed the deal to secure the cinema operator as anchor for the £100m Time Square leisure-led development.
A deal was agreed in principle with Cineworld in September 2015, but with the development now coming together, Metis Real Estate Advisors acting for Warrington & Co and Muse and Wareing & Partners representing Cineworld have completed the agreement. Metis has now been appointed as Time Square’s leasing agent.
The scheme is due to open in 2020 and will see Cineworld, Europe’s second-largest cinema business, operate a facility with 2,500 seats across 13 screens, including a Superscreen. The operator said it intends to add a dining line-up combining national high street brands with local independents.
Time Square also includes a recently completed 1,100-space car park and a new civic headquarters for Warrington Borough Council. The old market building at the site is to be replaced by a more modern market hall with a range of operators, following the model that has worked well in other locations.
David Burkinshaw, development director at Muse, 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 bring 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.”