Cineworld confirmed as Time Square leisure anchor
The partners behind Warrington’s Time Square leisure-led mixed-use development, Warrington & Co. (on behalf of Warrington Borough Council) and development manager Muse Developments, have announced that Cineworld, Europe’s second largest cinema operator, is to anchor the £100+ million development. Opening in 2020, the signing of Cineworld at Time Square is one of the largest cinema lettings in the North West in recent times.
Providing 2,500 seats across 13 screens, Cineworld will offer visitors to Time Square a premium multiplex experience with state-of-the-art screen and sound technology, including a Superscreen. Cineworld will complement a proposed dining line-up combining national high street brands with local independents to create a unique offer in the region.
Situated in the centre of Warrington with excellent accessibility via the local road network, with fast links to the M6, M62 and M56, Time Square will respond to the area’s high demand for a leisure offering by providing a family-friendly restaurant and leisure hub. In addition, the development includes a 1,100-space premium carpark, which has recently been completed, and the new offices for Warrington Borough Council. The old market building will be replaced by a new continental European-style market hall featuring a range of operators, adding to the vibrancy of Time Square.
Coinciding with the confirmation of Cineworld, Metis Real Estate Advisors has been appointed as the development’s leasing agents. In the last 12 months, Metis has let over 500,000 sq ft of space in the North West and was named ‘Niche or Regional Agency Team of the Year’ at Property Week’s annual awards in April 2018.
Commenting on the news, David Burkinshaw, Development Director at Muse Developments, said: “Securing Cineworld is an important first step in our leasing plans, one that not only gives real momentum to Time Square, but sets a great benchmark in terms of the quality and innovation visitors can expect. Working with Metis, who bring a wealth of experience, we are now focusing on the next stage of the leasing, which will secure a great mix of exciting F&B brands.
“Our intention is to create a great new destination that will complement the strength of Warrington’s retail offer, helping to attract new visitors to the town while ensuring residents no longer need to travel elsewhere to experience the very best in restaurants and entertainment.”
Kevin Frost, Cineworld’s UK Property Director, added: “We are delighted to be the multiplex offer at Time Square, a scheme deliberately designed to deliver the perfect blend of leisure and dining to residents of Warrington and beyond. Our next generation cinema will deliver the very latest in state-of-the-art, big screen cinema entertainment.”
According to a report by CACI, Time Square will increase Warrington’s catering market potential by 14%, moving Warrington up three places to make it a top ten dining destination in the North West.
Metis Real Estate Advisors acted on behalf of Warrington & Co. and Muse Developments. Wareing & Partners represented Cineworld.