Schroders secures Cardiff leisure anchor
Schroder UK Real Estate Fund has signed a deal to bring Everyman Cinema to Cardiff’s Mermaid Quay, as part of the strategic repositioning of the 150,000-sq ft mixed-use destination on the waterfront in Cardiff Bay. Plans include a comprehensive refurbishment of the public realm, in line with Cardiff Council’s ambitious vision for the future of the Bay.
The 11,500-sq ft five-screen boutique cinema will be Everyman’s first opening in Wales and will trade alongside Mermaid Quay’s vibrant mix of top high street and independent food and beverage brands. It is expected to open in Autumn 2019.
Mermaid Quay, which will mark its twentieth anniversary next year, attracts around 5.5 million visitors a year. SREF recently secured consent for a programme of improvement works that will transform the scheme, creating a more contemporary dockside feel in keeping with Mermaid Quay’s spectacular waterfront location.
SREF investment manager Harry Pickering said: “This has always been an unrivalled location and our transformative plans will further maximise this, ensuring Mermaid Quay retains its status as one of the most popular leisure locations in Wales.”