Colchester Council is currently in discussions with two cinema operators regarding the vacant Cineworld unit at Northern Gateway. The unit has not yet been fitted out as a cinema, but there is optimism that a new operator will take over the site.
Councillor David King, the leader of Colchester Council, expressed confidence in the future of the cinema industry and the potential for a resurgence in summer 2025. While he did not disclose the names of the two operators in talks, he emphasized that there is significant interest in the location.
In preparation for any potential shortcomings in the project, £4 million of taxpayers’ money has been set aside in a reserve called Turnstone. This reserve was created to address the updated commercial risks associated with the lease arrangement at Northern Gateway.
Tiptree Councillor and Conservative group leader for Colchester, Councillor Paul Dundas, raised concerns about the financial implications of the project and the allocation of £4 million towards potential losses. He emphasized the impact on council tax payers and the services that could be affected by the financial commitment to the project.
However, a spokesman for Colchester Council defended the creation of the Turnstone Reserve as a prudent financial measure to manage potential risks associated with the commercial lease arrangements. The council remains committed to the success of Colchester Leisure Park and is actively engaged in discussions with alternative cinema operators and prospective tenants.
Despite the challenges posed by the delay in the cinema opening due to Cineworld’s insolvency, the council is focused on ensuring the long-term success of the leisure park for residents and businesses. With existing operators like the hotel and Hollywood Bowl already open, there is optimism about the potential for additional tenants to enhance the site’s offerings.
As negotiations continue and plans unfold for the future of the Cineworld unit at Northern Gateway, Colchester Council remains dedicated to securing a new operator and maintaining the vibrancy of the leisure park for the community. The discussions with potential tenants and operators reflect a proactive approach to navigating the uncertainties of commercial ventures and ensuring the economic viability of the site for years to come.
