An iconic London cinema loved by Hollywood directors is being ‘bullied into closure’ over fears the billionaire landlord will redevelop the site.
The Prince Charles Cinema in Leicester Square has said they have been ‘intimidated’ by landlord Zedwell LSQ in a row over their lease renewal.
The cinema, which opened in 1962, claims the landlord wants an increase in rent above market rates in an attempt to shut the business and redevelop the property.
This is despite the Prince Charles being one of the country’s best-loved cinemas, and attracts more than 250,000 each year.
Film makers have praised the venue, with Quentin Tarantino describing it as ‘Mecca for lovers of quality films’.
John Waters, who directed 1980s hit Hairspray, called it ‘the most depraved and beautiful movie theatre in London’.
Zedwell, which is controlled by billionaire property developer Asif Aziz, has reportedly demanded a new break clause which would require the cinema to vacate a six month’s notice if planning permission for redevelopment.
The cinema claims this reveals their ‘clear intention’ to repurpose the building.
They said: ‘We are beyond disappointed that our landlords Zedwell LSQ Ltd and their ultimate parent company Criterion Capital, have demanded the inclusion of a break clause in our new lease.
‘This could leave us homeless with only 6 months’ notice should they receive planning permission to redevelop the cinema.
‘Losing The Prince Charles Cinema would mean losing not just an iconic cultural institution, but also an engine for the economy of the West End that brings people from all over London and the surrounding area to watch films, shop and eat and drink.
‘This would have repercussions way beyond the building itself.
‘We feel that this demand amounts to a clear attempt by Zedwell LSQ Ltd and their ultimate parent company Criterion Capital, to use their significant financial resources to disregard our legal entitlement to a new lease and bully us out of the building once the existing one ends in Sept 2025. ‘
It also hosts multiple events, including all-nighters dedicated to the Jurassic Park films and a sing-along to The Muppet Christmas Carol.
The cinema, which is owned by company Bubble Chamer, said they plan to launch legal proceedings to protect against redevelopment projects as well as significant rent increases above market rates.
Criterion Capital said: “Bubble Chamber Limited has initiated lease renewal proceedings on Prince Charles Cinema and the landlord has responded in accordance with Landlord and Tenant Act 1954.”