Cult London cinema threatened with closure amid battle with landlord
A cult London cinema has warned it is at risk of closure and faces the threat of redevelopment by its landlord.
The independent Prince Charles Cinema off Leicester Square, which has been praised by the likes of filmmaker Quentin Tarantino, said it believes its landlords are using 'significant financial resources to intimidate us'.
The cinema was founded in 1962 and attracts more than 250,000 customers a year.
It said on Tuesday that efforts to renew its lease, which is due to expire in September 2025, at a market rate, have been challenged by its landlord, Zedwell LSQ Ltd, and its ultimate parent company, Criterion Capital.
Criterion is owned by billionaire developer Asif Aziz and owns a number of hotels and other properties in the West End.
The cinema said the landlord has also demanded a new clause which, if triggered, would leave the cinema homeless with just six months' notice.
It added that Criterion has continually rejected requests for negotiation.
In a petition signed by more than 18,000 shortly after it launched, it said it believes the landlord is seeking planning permission to redevelop the cinema site.
A spokeswoman for the cinema said: 'We are one of the last remaining independent cinemas in central London, receiving no public funding and attracting over 250,000 customers a year at a time when the industry is struggling.
'We are disappointed that our landlords Zedwell LSQ Ltd and their parent company Criterion Capital have demanded the inclusion of a break clause that would require us to vacate the premises at six months notice, should they receive planning permission to redevelop the building, which we interpret as a clear intention to do so.
'Moreover, the landlord is also demanding a rent far above market rate and at a level which no cinema proprietor would consider reasonable, and is refusing to supply any information to back this up.
'We believe that these tactics amount to an attempt by the landlord and Criterion Capital to use their significant financial resources to intimidate us, regardless of our legal entitlement.'
The cinema said it is currently pursuing legal proceedings to contest the landlord's valuation of the lease.
A spokeswoman for Criterion said: 'We value Prince Charles Cinema and we work closely with our tenants to help best utilise the properties within our portfolio.
'We operate within the provisions of the Landlord and Tenant Act 1954 and categorically deny any attempts to intimidate or disadvantage them.
'A break clause is standard commercial practice, reflecting long-term property planning, not unreasonable intent.
'Our rental expectations are based on a fair market assessment, and we remain open to constructive dialogue within legal frameworks to resolve disagreements.
'We are committed to curating a portfolio that balances community benefit with sustainable commercial arrangements, and mischaracterising our position through public campaigns hinders resolution.'
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