£35m backing for York cinema complex

The investment will build a new 13-screen IMAX cinema, which has been leased to Cineworld, as well as restaurants and retail units. The leisure scheme is park of the wider Vanguarde development at Monks Cross, which has been in the planning for four years by City of York Council and Wrenbridge Sport,

It includes an 8,000 seat stadium for York City FC and York Knights rugby club, and a leisure complex including a sports hall, swimming pool, gym, NHS facilities and outdoor artificial pitches, as well as further shops and restaurants. Contractors Buckingham Group are already preparing to start construction on the stadium complex, with all elements set to open in 2019.

Senior fund manager at LGIM Real Assets, Andrew Ferguson, said: “Good-quality leisure developments in the UK are still relatively rare. The chance to fund a brand new scheme, anchored by Cineworld, in an important growth city such as York is a great opportunity for the Leisure Fund.

“This investment is also another example of how we can unlock development opportunities through our private capital by working in partnership with existing developers and with a proactive and collaborative local authority. #

“This is a significant development for York and an important investment for the City which will create jobs and contribute to the growth of the local economy.”

Earlier this month, a new IMAX cinema opened at the White Rose Centre in Morley, Leeds.