The cinema group has signed a long-term lease with innovative developer and investor, Squarestone Asset Management, to become the leisure anchor at Ayr’s Kyle Centre.
Coupled with South Ayrshire Council’s planned Leisure Centre on the Arran Mall site, which is also controlled by Squarestone Asset Management, this will see a key area in the heart of the town centre repurposed into a vibrant cultural and leisure destination.
The Arc Cinema is a boutique cinema operator that currently has six sites across the UK and Ireland, with a further two UK sites under construction and due to open in mid-2021. It specialises in providing a VIP cinema experience for the price of a standard ticket.
Tim Barlow, Chief Operating Officer at Squarestone Asset Management commented: “We are delighted with the outcome of the efforts of all involved, particularly, given the challenges of recent months. The Arc Cinema signing is a real endorsement of Ayr and we are all very excited about them committing to this opportunity. Squarestone Asset Management can now look at signing food and beverage operators to complement the cinema.”
Along with the cinema at the Kyle Centre, plans include food and beverage outlets, a host of complementary leisure activities such as virtual reality, soft play, indoor golf experience and a refurbished car park. The new facilities will be set within a fully refurbished and extended Kyle Centre which will connect the scheme to the wider town centre, and an expanding range of leisure and entertainment offers to create a real sense of place.