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.