Latest news with #CriterionCapital
BBC News
30-05-2025
- General
- BBC News
Listed building attempt for Central London YMCA building
A heritage charity and a London campaign group have applied to list the building formerly home to the world's first purpose-built YMCA, following its closure earlier this Twentieth Century Society and the ExY Club have filed submissions with Historic England in an effort to protect the Brutalist structure on Great Russell Street.A spokesperson for the Twentieth Century Society said the listing would ensure that "whatever the future may hold, [the building's] undeniable architectural qualities would endure".The former YMCA was closed in February after being sold late last year to real estate firm Criterion Capital. The company was contacted for comment. The Central YMCA had been operating from its Great Russell Street base since 1977.A petition to save the premises received more than 8,000 signatures however it shut as planned on 7 February. The Twentieth Century Society and the ExY Club, formerly the Save the YMCA Club Committee, applied to Historic England to have the building ExY Club's detailed submission, which is intended to complement The Twentieth Century Society's submission, focuses on the building's design and purpose as a community and leisure complex."The building is the subject of a recent sale which may alter the interior layout and change the purpose and nature of the buildings [sic] historic function – a function that is intrinsic to its historic, communal and architectural value," the application Twentieth Century Society's submission said the "Brutalist concrete megastructure" had "considerable historic and architectural interest". 'Clear historic interest' A spokesperson for The Twentieth Century Society told the Local Democracy Reporting Service: "Bloomsbury's Brutalist landmark has clear historic interest as the site of the world's first YMCA, and its status as an Asset of Community Value demonstrates its importance to the members and community that frequented it until recently."Recognising the building with national listing would ensure that, whatever the future may hold, its undeniable architectural qualities would endure."A Historic England spokesperson confirmed they were in the process of assessing the building for listing."In due course we will submit our advice to the Department for Culture, Media and Sport (DCMS), who will then make the final decision on the case," they said.
BBC News
07-02-2025
- Business
- BBC News
Soho: London YMCA closes for good after injunction bid fails
A YMCA on the site of the charity's first purpose-built centre is set to close for good on club on Great Russell Street, which also houses central London's largest gym, was sold to real estate company Criterion Capital last closure follows a failed High Court injunction application by club member Patrick Palmer, YMCA CEO, said: "It is with a heavy heart that we close the doors for the final time." "We are deeply saddened at the closure of our Great Russell Street site, and recognise the loss to the local community," he said."The site has supported positive change for so many individuals over the years." 'Shortage of evidence' The club, which had 3,600 members and 10,000 regular users, blamed demographic changes, the age of the building and soaring maintenance costs for the December Mr Palmer said the sale would allow the organisation "to reinvest in more sustainable, impactful, and forward-looking ways".The injunction to keep it open was rejected at the High Court after Mr Justice Trower decided there was a shortage of evidence to support Mr Joy's intended cause of had submitted the application on the grounds the closure could impact his "health and welfare".Originally opened in 1911, it was used as a shelter in World War Two before being demolished and rebuilt in the YMCA will still offer facilities at its sites in Moorgate and King's Cross.
Yahoo
28-01-2025
- Business
- Yahoo
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.'
Yahoo
28-01-2025
- Entertainment
- Yahoo
London's Prince Charles Cinema ‘Under Serious Threat' of Closure, Launches Petition to Save Iconic Theater
London's Prince Charles Cinema said on Tuesday that it is 'under serious threat' of closing after a disagreement with its landlord over a new lease. The cinema posted a petition on its social media accounts calling for help saving the iconic theater, which has been praised by the likes of Quentin Tarantino and Paul Thomas Anderson. In the first hour, the petition already has over 10,000 signatures. 'We are beyond disappointed that our landlords Zedwell LSQ Ltd and their ultimate parent company Criterion Capital have demanded the inclusion of a break clause in our new lease,' the petition reads. 'This could leave us homeless with only 6 months' notice should they receive planning permission to redevelop the cinema.' They continued: 'Losing the Prince Charles Cinema would mean losing not just an iconic cultural institution, but also an engine for the economy of the West End that brings people from all over London and the surrounding area to watch films, shop and eat and drink. This would have repercussions way beyond the building itself.' According to the Telegraph, the Prince Charles is the last independent cinema operating in London's West End. It's known for its unique programming, including all-night movie marathons dedicated to specific directors and franchises and 70mm screenings of classic and foreign films. 'We feel that this demand amounts to a clear attempt by Zedwell LSQ Ltd and their ultimate parent company Criterion Capital, to use their significant financial resources to disregard our legal entitlement to a new lease and bully us out of the building once the existing one ends in Sept 2025,' the petition states. Criterion Capital did not immediately respond to Variety's request for comment, but a spokesperson told the Telegraph: 'Bubble Chamber Limited has initiated lease renewal proceedings on Prince Charles Cinema and the landlord has responded in accordance with Landlord and Tenant Act 1954.' Best of Variety What's Coming to Netflix in February 2025 New Movies Out Now in Theaters: What to See This Week What's Coming to Disney+ in February 2025
Euronews
28-01-2025
- Entertainment
- Euronews
The Prince Charles Cinema: Iconic London picturehouse threatened with closure
Since opening in 1962, London's Prince Charles Cinema has received cult status among film lovers – including the likes of Quentin Tarantino, John Waters and Paul Thomas Anderson, who said that it has 'a place in my heart.' 'It's the people, the programming, the accessibility, feeling, texture... you cannot go wrong. You also know that on any given day, you can close your eyes, press your finger to the programme, and you'll hit something great. It's like tuning into your favourite radio station,' said PTA. Known for its arthouse screenings, off-beat line-ups and midnight marathons, the PCC continued to thrive as a haven for cinephiles and genre fanatics. However, the treasured picturehouse could be faced with closure, despite its popularity and 2024 marking its highest number of ticket sales for a second year in a row. The last independent cinema operating in London's West End hosted around 850 films and events and attracted more than 250,000 customers. All without any public funding. According to the PCC, its landlords, Zedwell LSQ Ltd and parent company Criterion Capital, 'have demanded the inclusion of a break clause in our new lease', demanding rent far above market rates which 'no cinema proprietor would consider reasonable'. If the new clause is triggered, it would allow the landlords to evict the operators with just six months' notice. Voir cette publication sur Instagram Une publication partagée par The Prince Charles Cinema (@princecharlescinema) Fearing its landlord is plotting a redevelopment of the site, the Prince Charles said: '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 PCC added: 'Losing The Prince Charles Cinema would mean losing not just an iconic cultural institution, but also an engine for the economy of the West End that brings people from all over London and the surrounding area to watch films, shop and eat and drink. This would have repercussions way beyond the building itself.' The cinema plans to launch legal proceedings 'in order to secure renewal at market rate and safety from any redevelopment projects.' It is also asking customers and fans to sign a petition to Save The Prince Charles Cinema – a petition which counts just shy of 12,000 signatures at the time of writing.
