News Desk

Vue Cinema Investment Acquisition

Acting for Opus Land North and Palmer Capitail Partners (PCP), Pudney Shuttleworth have acquired from receivers the seven screen Vue cinema in Birkenhead on The Wirral. The property is let to Vue for a further 12 years at a current rent of £666,582pa. Opus and PCP paid £5.2m reflecting a highly attractive yield of over 12%.
As part of the deal, Pudney Shuttleworth also acquired the Freehold interest in that part of the site which was being sold Long Leasehold. In addition, an option has been agreed with Vue to reduce their rental payments in return for a premium payment and an extended lease term.
Opus and PCP have plans to inhance their investment by adding complimentary occupiers on under utilised parts of the site and, where possible, adjoining land.

Contact: Richard Fisk

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