Regent Arcade Sign up Metro Bank as Work Gets Underway on Luxury Boutique Cinema
Works have started on the creation of a 22,000 sq ft multi-million-pound TIVOLI boutique cinema, scheduled to open in the Regent Arcade Shopping Centre in Cheltenham next spring. The luxury four screen facility which will also have a VIP director’s lounge for private screenings, is to occupy part of the former BHS unit.
Said Neil Goulding, facilities and construction director of TIVOLI Cinemas: “We are delighted to bring our second TIVOLI venue to Cheltenham following the successful launch of TIVOLI Bath late last year. The response to the Bath cinema far exceeded our expectations and we are sure the people of Cheltenham will be just as excited to see what TIVOLI has to offer.”
At the same time owners Canada Life Investments announced it had exchanged contracts on a 13,000 sq ft unit at the front of the centre to Metro Bank for its own occupation. The unit is currently let to River Island.
Cushman and Wakefield has a long-standing relationship with Canada Life Investments and has been instrumental in securing a string of deals within the 200,000 sq ft shopping centre including TIVOLI cinema and Metro Bank. Commented James Merrett, partner, retail services at Cushman & Wakefield; “It is great to see that work has begun on the TIVOLI cinema which will open its doors to the Cheltenham public in spring of next year. As a result of the huge success and learnings following the opening of TIVOLI’s cinema in Bath earlier this year, the plans for Cheltenham will include a luxury bar and lounge area set to be best in class.
“As for Metro Bank, they have taken a long lease on one of the most prominent units in Cheltenham bringing their award-winning service to the High Street at a time when most other banks are closing branches. Metro’s arrival will provide a much-needed boost for the town centre in today’s challenging retail climate.”
Commenting on their new branch, Ian Walters, managing director of retail and business banking at Metro Bank, said: “As the revolution in British banking, we’re excited to be coming to Cheltenham. We’re committed to bringing amazing customer service to local residents and businesses in the area.”
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