Lendlease and Invesco Real Estate have signed Empire Cinemas as the anchor for the £60m extension of Queensgate shopping centre in Peterborough as a range of key stakeholders including John Lewis commit to the project, CoStar News can reveal.
Empire will open a 10-screen cinema, complete with IMAX® and Empire’s large format IMPACT® screens. The cinema will be housed in around 40,000 sq ft.
Empire Cinemas operates 129 Screens across 14 cinemas in the UK.
The 77,000 sq ft extension of Queensgate will be carried out in partnership with John Lewis, which has now committed to investing in its store as part of the proposals to create an enhanced retail layout, showcasing its latest shop design. The extension will include leisure space and the parties said there is already strong demand from a number of leading restaurant and leisure operators to take space.
In addition to signing Empire, River Island is upsizing into an 11,600 sq ft store at Queensgate. River Island joins Joules in utilising part of the former BHS.
Guy Thomas, Head of Retail at Lendlease, said: “This is an exciting milestone for Queensgate. The extension will cement the centre’s appeal as a retail and leisure destination on a regional basis by adding a significant leisure component and creating new stores that meet modern retailer requirements. Empire Cinemas is the perfect partner and will bring to Peterborough city centre a first-class cinema experience.”
Justin Ribbons, Chief Executive of Empire Cinemas, added: “We are very delighted to be bringing our memorable cinema experience to Peterborough. This will be our first cinema in the region, so will serve as a flagship for the community, providing visitors with the best quality, screens, seating and sound.”
Speaking to CoStar News Thomas said: “Ther has not been a city centre cinema in the city centre for a long time and providing a new food court to is really important. The city has also invested heavily in public realm. We have identified a lack of an all day offer and this alongside Jonh Lewis’s significant refit commitment to Peterborough and Queensgate and the other lettings is hugely positive. We have had no movements in the void levels. It iss about producing and positioning a centre.”
In the last 12 months, Queensgate has signed Joules, Smiggle, Pandora, New Look, Ann Summers, Yankee Candle and Sharps Bedrooms. At the end of last year, Queensgate also unveiled an £8m.
CBRE and Time Retail Partners represented Queensgate. Empire dealt direct and HDH acted for River Island.
Source: CoStar UK