Original Coverage & Source Attribution: www.propertyweek.com
Iconic independent London West End cinema The Prince Charles has secured a new 25-year lease with landlord Criterion Capital, saving it from closure.
The Prince Charles Cinema has signed a new lease with landlord Criterion Capital
The Leicester Square venue faced closure at the start of 2025, when Criterion was keen to add a six-month break clause to its lease, which had been due to run out last month.
It secured the new lease with no break clause following a campaign of public support, with over 160,000 people signing a petition in support of the the cult cinema.
Last year, the cinema was declared an Asset of Community Value by Westminster City Council, protecting it from redevelopment.
“The Prince Charles Cinema is a unique and much-loved part of the West End and we are delighted to have agreed terms that secure its future at Leicester Place,” said Vaq Farooq, chief executive of Criterion Capital.
“I’m particularly pleased that together we were able to work through a set of complex issues and find an equitable solution for both parties. A 25-year commitment provides real security for the cinema and its fans, and we are delighted to be continuing our partnership for many years to come.”
Criterion is investing in a new Zedwell Capsule hotel on the upper floors of the building in a bid to entice international and domestic travellers to the cinema. Last year the firm opened what it claimed to be “the world’s largest capsule hotel” at the London Pavilion building on the north-east side of Piccadilly Circus.
Ben Freedman, owner of the Prince Charles Cinema, said: “Our cinema means an enormous amount to our team, audiences, and the wider arts community. Having this security gives us the confidence to invest in the cinema’s future and continue providing a home for film lovers.
“We are pleased to have reached an agreement that works for both parties and, most importantly, allows us to look forward with real confidence and excitement to the next chapter of the Prince Charles Cinema.”
