Lichfield District Council is in the spotlight with plans to take over a new cinema development, a move that could transform the heart of the city. Discussions are underway about a potential £3.5 million investment to acquire complete ownership of the cinema, currently under development in the former Debenhams building.

This initiative is part of the council’s broader strategy to rejuvenate the city centre. The council is collaborating with Evolve Estates, the current owners of the site, and has proposed a clause in their agreement for a future buyout. This decision follows an initial £5.7 million investment to kickstart the joint venture.

The report, presented to the overview and scrutiny committee, highlights Evolve Estates’ commitment to the cinema project and the wider regeneration of the city. The past year has seen positive changes, with new brands like Starbucks, Edinburgh Woolen Mill, and KFC occupying previously vacant units in the Three Spires shopping centre, also owned by Evolve Estates.

October 2022 saw the council affirming its joint venture with Evolve Estates, driven by a shared vision for the district. The partnership is poised to introduce a high-quality cinema and diverse food and beverage outlets, complementing the city’s independent offerings.

The council’s deputy leader, Cllr Andy Smith, emphasised the positive impact of Evolve Estates on the city and the aligned ambitions for the site’s development. The report seeks the cabinet’s final approval for the buyout clause, a step towards the council becoming the sole owner of the development, reaping its financial benefits and managing its associated risks.

Negotiations for a 25-year lease with a cinema operator and pre-let agreements for most food and beverage units are in the final stages, pending the conclusion of the LLP deal. The council’s approval of the proposed amendment will pave the way for the development’s completion and activation of the buyout clause.