Harrogate cinema development faces delays
A CINEMA development in Harrogate, which was due to open before Christmas, will not be delivered until the second half of this year according to an update from the operator.
The £10m development replaces the old Beales department store on Station Parade.
Everyman Cinemas has completed a sale and leaseback on its proposed Harrogate site, which is due to open in the second half of 2016.
The company exchanged contracts on a 999 year long term lease for the site in August 2014. It cost the business £3.18m.
It was initially intended to be finished before Christmas last year, then the date was moved to spring 2016. Now the operator has suggested it will be late 2016 when the development is delivered.
Everyman has agreed to sell the long term lease to Six Guys for £3.25m Six Guys is a partnership controlled by executive director of the Everyman Group Adam Kaye and chairman Paul Wise. It will then leaseback the site with an annual rent of £234,000
The Everyman board, excluding Mr Kaye and Mr Wise, confirmed the sale and leaseback terms represented fair market value.
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