British Land signs deal with Cineworld

23rd Oct 2015 10:25

(ShareCast News) - Speke Unit Trust, the specialist retail park fund advised by British Land and managed by Schroders, has exchanged contracts with Cineworld for an 11-screen cinema at Mersey Shopping Park in Speke, Liverpool.British Land said the letting to Cineworld follows the receipt of planning permission from Liverpool City Council in July 2015 for a new leisure extension and wider upgrade works at the park. The works are scheduled to commence in early 2016.Kevin Frost, property director at Cineworld, said: "We have partnered with British Land across a number of their assets and we are delighted to be opening a brand new cinema at Speke with our state-of-the-art Superscreen projection and sound technology."New Mersey is a fantastic shopping and leisure destination and we are excited to be part of the new leisure extension which will undoubtedly enhance the appeal of the park."At 1040 BST, British Land shares were down 0.1% at 869p.