A cinema portfolio which includes Tivoli in the centre of Bath has been put up for sale after the Empire Cinema Group went into administration.
Photo © Lloyd Evans Photography
Real estate advisor CBRE has been appointed to sell the portfolio of eight sites, which comprises two luxury boutique Tivoli cinemas, five multiplex cinemas and one classic standalone cinema.
The assets are located across the UK in Bath, Cheltenham, Birmingham, Clydebank, High Wycombe, Ipswich, Sutton and Sutton Coldfield and are available to purchase as either a single portfolio, individual sites, or a combination.
In addition to the cinemas, the company’s head office in Leicester Square will be offered as part of the sale, which is on a peppercorn rent for the next three years.
Toby Hall, Senior Director, Operational Real Estate at CBRE said: “This is a rare opportunity to acquire profitable, operating cinemas in a market with renowned high barriers to entry.
“The sale can either act as a platform for parties to enter the sector or allow existing operators to complement their current estate by acquiring individual or multiple cinemas.
“We have received significant interest from a wide pool of prospective buyers as they look to capitalise on a recovering industry.”
Tivoli opened in the SouthGate shopping centre in 2018, offering a luxury café and bar, as well as four state-of-the-art screening studios.
