Property firm sells cinema in £5.65m deal
YORKSHIRE property development and investment company Opus North has sold the Vue cinema in Birkenhead to London Metric Property for £5.65m.
The cinema, which is let to Vue on a 15-year lease awas bought out of receivership two years ago for £5.2m.
Vue Birkenhead is situated on Europa Boulevard in Conway Park, close to the Birkenhead Tunnel. The state-of-the-art, seven-screen cinema has 1,700 seats.
Andrew Duncan, managing director of West Yorkshire’s Opus North, said: “This sale reflects a buoyant investment market in the North West. It will also allow us to continue on our acquisition trail in the north of England.”
A spokesman for London Metric said: “The acquisition will complement our existing Odeon portfolio and provides attractive income characteristics.”
CBRE advised Opus North, while Knight Frank acted for London Metric.