Vue Entertainment Seeking £80 Million Sale Leaseback of Six UK Cinemas

Estates Gazette reports that Vue Entertainment has appointed HP Four to sell a portfolio of six cinemas following last month's £350m management buyout. The cinema developer and operator has appointed HP Four to sell the six UK cinemas, including the 65,000 sq ft Vue Leicester Square, for £80m, or a 5.5% initial yield. The properties are Vue's only freeholds and will be sold on a leaseback basis under 15-year leases on all except its West End flagship, where it will take a 30-year lease. The leases will have fixed yearly increases and open-market reviews every five years. Sphere: Related Content