REEL Cinema Lease Update

July 9, 2024 Executive Member (Resources) (Cabinet member) Approved View on council website
Full council record
Content

Recommendations
approved
 
Reasons for
recommendations
As outlined within the report.
 
Other options
considered and rejected
Do nothing – This was discounted due to
the potential negative consequences for Chorley Town Centre.
Denying the rent holiday could lead to financial instability for
the cinema, potentially resulting in the closure and loss of a
valuable community asset.
 
Accept Reels Proposals of Turnover Rent or 2
year half rent – This was discounted due to a significant
decrease in revenue for the Council.

Details

OutcomeRecommendations approved
Decision date9 Jul 2024
Subject to call-inYes