Cult venue Prince Charles cinema ‘saved’ after lease renewal signed

The celebrated Prince Charles repertory cinema in London’s Leicester Square has announced that the threat of closure has been staved off by signing a new 25-year lease with its landlords.In a post on social media titled “You Saved the PCC”, the cinema said that “after 21 months of uncertainty, we’re delighted to have secured the future of the cinema” and that they had “signed a new 25-year lease with no break clause, ensuring our projectors will keep rolling for years to come”.The cinema also expressed its gratitude for the “support, commitment and belief of many, many people”.In January 2025, the Prince Charles launched a petition, claiming that its landlord, Zedwell LSQ Ltd (owned by developer Criterion Capital) was trying to “bully us out of the building” by demanding a break clause in its lease, due for renewal in September 2025. The break clause would have enabled Zedwell to give the cinema six months’ notice if it had other plans for the site. At the time, Criterion Capital denied that it was attempting to intimidate or disadvantage the cinema.The news, however, triggered a groundswell of support, from film fans and industry figures including the actor Paul Mescal and directors Danny Boyle, Robert Eggers, Christopher Nolan and Edgar Wright.The building was opened as a live theatre in 1962, but converted to a cinema in 1969 after being bought by the Star Cinema chain, and subsequently showed adult movies. In 1991 it was taken over as a repertory cinema with cut-price seats. In May 2025, the Prince Charles was designated an asset of community value by Westminster City Council.Ben Freedman, the owner of the Prince Charles, said in a statement: “Our cinema means an enormous amount to our team, our audiences and the wider arts community. Having this security gives us the confidence to invest in the cinema’s future and continue providing a home for film lovers. We are pleased to have reached an agreement that works for both parties and, most importantly, allows us to look forward with real confidence and excitement to the next chapter of the Prince Charles Cinema.”Vaqas Farooq, CEO of Criterion Capital, said: “We are delighted to have agreed terms which secure [the Prince Charles’] future … I’m particularly pleased that together we were able to work through a set of complex issues and find an equitable solution for both parties. A 25-year commitment provides real security for the cinema and its fans, and we are delighted to be continuing our partnership for many years to come.” Farooq added that the landlords plan to develop a hotel on the building’s upper floors.Lease issues are also behind the threat to another key independent cinema, the Ultimate Picture Palace in Oxford, whose landlord, the University of Oxford’s Oriel College, is refusing to renew its current lease past 2037.