Trowers & Hamlins has advised Lichfield District Council on its joint venture with a well-known property investment group.
As part of the Council's efforts to revitalise Lichfield city centre, the Council has created an innovative joint venture partnership with a well-known and nationally recognised property developer.
The project is due to start in the first quarter of 2024 and will see a four-screen boutique cinema created within the former Debenhams store in Three Spires. The cinema will feature a mix of screens and food and beverage and retail units.
The Council envisages that the cinema will boost the economy in the city centre and serve as a keystone feature in further regeneration of the Birmingham Road Site, with further planned phases.
Amardeep Gill who leads Trowers' Public Sector team commented:
"We are pleased to have advised our long-standing client, Lichfield District Council, on the implementation of the Three Spires regeneration project. Local government plays an important role in shaping the built environment and boosting local economies.
"This deal shows how collaboration and cooperation can lead to fantastic opportunities for our towns and city centres. It will not only attract footfall to the city centre but provide a new space to enjoy to the city's most exciting culinary and beverage delights. The new cinema and public space will have numerous benefits for local residents and businesses".
Lichfield District Council’s Chief Executive Simon Fletcher said:
“Our ambitious plans for the redevelopment of the former Debenhams store with a cinema scheme in Three Spires shopping centre signal the beginning of a major transformation of that part of the city centre.
“It is the joint venture partnership which is making this progress possible and I would like to thank Trowers & Hamlins LLP for their help and advice.”
The Trowers team was led by Partner, Amardeep Gill, National Head of Public Sector, Real Estate and Regeneration Partner, Chris Plumley, and Corporate Partner Moad Giebaly. They were assisted by real estate Senior Associate, Razina Akhtar, Real Estate Associate Harriet Burford and Corporate Associate Amar Mehta. Partner Nathan Williams advised on tax, and Partner Paul McDermott advised on procurement assisted by Senior Associate, Stuart Brown.
