Schroder UK Real Estate Fund (‘SREF’) has signed a deal to bring Everyman Cinema to Mermaid Quay, as part of the fund’s multi-million pound strategic repositioning of the popular 150,000 sq ft mixed-use destination on the waterfront in Cardiff Bay. The fund’s transformative plans include a comprehensive refurbishment of the public realm, in line with Cardiff Council’s ambitious vision for the future of the Bay.
The 11,500 sq ft boutique cinema will be Everyman’s first opening in Wales and will comprise five screens featuring Everyman’s chic sofa seating and innovative waiter service. Located on the terrace level of the scheme, the cinema will trade alongside Mermaid Quay’s vibrant mix of top high street and independent food and beverage brands. It is anticipated to open in Autumn 2019.
Mermaid Quay is the focal point of Cardiff Bay and is one of the most popular leisure destinations in the city. The scheme, which will mark its twentieth anniversary next year, attracts around 5.5 million visitors a year.
SREF recently secured consent for a programme of improvement works that will transform the scheme, creating a more contemporary dockside feel in keeping with Mermaid Quay’s spectacular waterfront location. A main element of the programme includes the creation of a stylish new landscaped public space in Tacoma Square, right at the heart of Mermaid Quay overlooking the bay, which will provide a new space for the centre’s extensive programme of events and entertainment. New paving, lighting, landscaping, signage and wayfinding, entrance markers, seating and street furniture will also be installed throughout the scheme.
Harry Pickering, Investment Manager for SREF, comments:
“Securing Wales’ first Everyman Cinema is a real testament to the confidence leading occupiers are showing in Mermaid Quay and our exciting future vision for the scheme. This has always been an unrivalled location and our transformative plans will further maximise this, ensuring Mermaid Quay retains its status as one of the most popular leisure locations in Wales.
“The public realm works we are set to begin will enable us to enliven the customer experience and create superb new public space to match the scheme’s beautiful waterfront setting. This is an exciting period of transformation at Mermaid Quay and we look forward to what will be a busy rest of year.”
Crispin Lilly CEO of Everyman Media Group PLC said:
“Cardiff is such a great city and we can’t wait to become a part of it with the development of our first Welsh Everyman venue. Everyman is all about the experience of a night at the cinema, so whether it’s the design of the venue, our fabulous food and drink menu, the sofa seating or our broad programme of films and arts events, we want to make people fall in love with that experience.”