Manchester’s Printworks is set to undergo a “transformational” £22m refurbishment after cinema chain Vue signed a new 20-year deal.
DTZ Investors, which purchased the site in February 2017 from Land Securities for £108m, has said work will start this month on the scheme which is part of Printworks’ “trajectory towards international recognition as a pioneering round-the-clock entertainment destination”.
The firm has also secured a new 20-year commitment to continue its ongoing partnership with Vue, who operate 23 screens at Printworks, including Europe’s second largest IMAX.
The cinema is set to undergo a multi-million-pound flagship refurbishment in tandem with the wider work.
The work marks the first major investment since the scheme launched in 1999, and includes the installation of a 900m2 digital ceiling.
DTZ Investors said the platform for immersive audio-visual performances will be Europe’s largest.
Printworks is to remain fully open and trading throughout the refurbishment.
The start of the work comes after planning consent was granted in February 2020.
Ben Haller at DTZ Investors, said: “Printworks has shown resilience through the pandemic and refurbishing this iconic venue remains part of our vision for the asset.
“The leisure sector continues to transition as consumers seek the ultimate experience with technology redefining both expectations and possibilities.
“Consumers at Printworks will soon benefit from just that with a fully immersive and interactive environment on a scale not previously seen in the UK.
“This in turn will drive footfall and provide our tenants with the best opportunity for trade.”
““Printworks has an exciting tenant-mix from day-time family entertainment to the evening and late-night offer and we are delighted to confirm Vue cinema has signed a new long-term commitment to the scheme.
“This, alongside our extensive refurbishment, point toward Printworks remaining a prime destination leisure venue for years to come.”
Printworks’ tenants include Bierkeller, Cargo, Chiquito, Escape Reality, Floripa, Frankie and Benny’s, Hard Rock Cafe, Meena, Nando’s, Nuffield Health, O’Neills, Tenpin, Treetops Golf, Vue, Wagamama, Walkabout, Wasabi, The Seven Stars and Yates.
DTZ Investors is a specialist European real estate fund manager, part of the Cushman & Wakefield Group.
The business was established in 1968 in the UK and expanded into continental Europe in 1999.