Paramount cinema billboard: covid-19 "intermission". Photo by Nick Bolton on Unsplash

Giving closed cinemas a second act

As the pandemic keeps audiences away, developers could soon face an adaptive reuse dilemma: What can you do with dead megaplexes When a tub of popcorn can run nearly $10, renting out an entire theater for $99 seems like a steal. For AMC Theatres, the mega-chain that recently introduced the private screening plan as a Covid-era concession to safety and shrinking audiences, it’s more a desperate ploy to keep the lights on as the American megaplexes face the prospect of a final showing. Recent coronavirus case spikes, new lockdowns and the expectation of…

Read More
Hammerson under microscope

‘Retail Apocalypse’ is getting darker for UK landlords

The collapse of mall landlord Intu Properties Plc is about to send shockwaves through a sector that’s already reeling. Nine of the U.K.’s biggest shopping centers could potentially be sold into a market that had already seized up before the virus struck. With the tenants of those properties only paying a fraction of their rent as the pandemic deepens a prolonged retail crisis, the risk they’re sold at knock-down prices threatens to further sink the values of malls nationwide. And that all assumes one key factor: somebody wants them in the first…

Read More