Purpose

Picturehouse informed the Council in early 2024 they were looking to walk away from their lease.

The Council believe investing in the town centre is the right thing to do, and by retaining the cinema this means Picturehouse employees will continue to have a job, Elwick Place will still have a key anchor tenant/offer and Ashford residents can still enjoy the cinema in the town centre.

If there were no tenant in these premises the Council would lose rental income and business rates, additionally it would be extremely difficult to get another operator to come in to take over an empty cinema.

Decision

The Chief Executive exercised her urgency powers to authorise the incorporation of a new company and the appointment of Directors and Company Secretary to that company and to authorise herself to sign on behalf of the Council.

Alternative options considered

Option 1 - take no action which would result in financial losses to the Council in rental and business rate income.

Option 2 - to step to take over the running of the cinema with the view to finding a new operator to take over the premises.