Cinema plans boost hopes for developers
Cinema fans look set to boost prospects for developers as increased competition among operators for the Irish movie going market could have a knock-on benefit for the value of development land.
As a result some developers and land owners have sought to revise the planning permissions for their properties. A number of local and international operators have signalled their plans for new Irish outlets. International operator Cineworld, which operates at the Parnell Centre in Dublin, has been considering four other possible locations in Dublin.
Meanwhile Superquinn recently applied for planning permission to incorporate a 1,280-seat six-screen cinema in its new shopping centre development at Ballywaltrim, south of Bray, Co Wicklow.
Operate
In addition the Butler Brothers, who already operate the UCI outlets in Blanchardstown, Newbridge and Coolock, have signalled that they intend to open three new cinemas -- at the Bailey Brothers' Charlestown Shopping centre near Finglas; at Bernard McNamara's site next to the Square in Tallaght and at the Cicol site next to the Balally Luas station in Dundrum, Dublin 14 where Mr McNamara is also a partner.
As some of Mr McNamara's development partners are also shareholders in Superquinn, there has been speculation that Colm and Ciaran Butler's expansion plans may have inspired Superquinn to seek the amended planning permission for its Bray project.
The Ward Anderson chain are pressing ahead with two new cinemas as they recently signed a deal with developer Noel Smyth that will see them operate the cinema at The Square in Tallaght, which the Butler brothers' UCI vacated last spring. Ward Anderson is also pressing ahead with plans to install a cinema on top of the St Stephen's Green Car Park.
In Waterford work is due to start within weeks on the Junction One project which will include an Omniplex cinema.
- DONAL BUCKLEY Commercial Property Editor
Irish Independent
