Plans to convert a Lichfield shop into a cinema will offer better value than building the long-awaited facility from scratch, councillors have been told.
Members of Lichfield District Council’s cabinet backed the proposals for the former Debenhams store at a meeting last week.
A final decision on whether to push ahead with a £5.3million plan to embark on a joint venture with Evolve Estates which owns the Three Spires Shopping Centre.
The council’s deputy leader Cllr Iain Eadie told the meeting the cost would not be met by borrowing and would represent a significant reduction on what it would cost to build a facility from scratch.
“Covid meant we couldn’t go out which led to growth of streaming, but many businesses are now going in and making empty stores across the UK a leisure experience. It’s welcome to see that coming forward for Lichfield as nobody wants to see us being left behind.
“This development will tempt people from surrounding areas to go to Lichfield instead of going to Tamworth or Burton for their cinemas.
“The contribution of £5.3million is considerably less than between £9million and £10million that the cost of a new cinema would look like – and the developer is also putting money in themselves which I welcome.
“This will be about improving where we live, shaping it and putting this in from cash rather than being built on debt.
“It is delivering for our children and it has my full support.”
Cllr Iain Eadie, Lichfield District Council
As well as the joint venture with Evolve Estates, talks are understood to be in progress with an established cinema operator who would take on the site on a 25-year lease and pay for the fitting out of the multi-screen facility.
Cllr Rob Strachan, cabinet member for finance, said that although the council had seen its “fingers burnt” previously when it came to cinema plans, this project was a very different proposal.
“The notes of caution from councillors in the overview and scrutiny committee and in briefing meetings is understandable.
“As an authority, we’ve had our fingers burnt with a previous joint venture attempt, but I consider this one to be materially different – the council’s approach is different, but also resilience and the prospect of the project are different.
“The commitment from the proposed tenant to a long lease also underlines their commitment.
“It is plainly in Evolve Estates’ interest for this to succeed because they are the landowner and are not external investors, so they are tethered to this project. It is quite clear this has quite a lot more momentum and invested interest than previous schemes – and that mitigates a number of failure risks.
“We’ve said we’d try to deliver this longer than I’ve been a councillor so I’m really pleased to see this finally come forward.
“The cost of doing so is considerable, but it is broadly costed, is considerably lower than the previous venture we were asked to invest in, and is drastically lower than the previous commercial property venture we considered we had the risk appetite to pursue for a number of years.
“It has a payback. It creates the opportunity to retrofit an otherwise redundant shop – which saves the cost and negative impression of a large vacant store on a major shopping street – and is considerably cheaper than building this afresh.”
Cllr Rob Strachan, Lichfield District Council
The proposals will be discussed at a meeting of the council on Thursday (20th October).
