New images revealed of The Three Spires scheme
The owner of The Three Spires development site in Lichfield has said its close to signing a leading national operator.
M Core, which acquired the outdoor shopping centre last summer, plans to transform the former Debenhams store into a multi-screen cinema, as well as adding a roof terrace with views over the Cathedral.
Last month, terms were agreed for the joint venture with Lichfield District Council and now M Core has revealed new CGIs of the development as talks progress with an operator.
Phil Murphy, head of property and transactions at Evolve Estates, which is part of M Core and is leading the JV scheme said: “It’s great to have agreed heads of terms for the cinema space, and the joint venture solicitors are significantly progressed in formalising the legal agreement with an operator.
“During the initial design stage, the JV whittled down cinema operators to three – The Light, Everyman and Reel – and while it’s not commercially prudent to advise on deal specifics until legal documents are signed, I can confirm the operator is every bit aligned with the renowned and ever progressive Three Spires we are developing.
“We wanted the operator to have a name as big as Lichfield, for it to be synonymous with quality and for the interior experience really wow whilst having a pre-showing drink or bite to eat. From visiting a number of its London sites, I know it offers all this and more.”
As well as the cinema, the Three Spires owner has also redesigned the wider proposal to include more leisure space and is in detailed discussions with a nationally known cocktail bar and a further leisure operator to bring their brands to the city for the first time.
“When we first took ownership last summer, we made a promise to the people of Lichfield that we would maximise its potential and we continue to invest our time, energy and money into making Three Spires an exciting leisure destination for both this city’s residents and tourists alike,” added Murphy.
