The iconic Leicester Square Odeon, which is one of London’s most famous cinemas and regularly hosts film premieres, has been bought by hotel chain Radisson Edwardian.
The hotel group, which said it would unveil its plans for the site in the “coming weeks”, already has planning permission for the cinema to be re-developed into a two-screen cinema, 245-room hotel with several restaurants and apartments.
It is reported that Irish debt company, National Asset Management Agency, has sold the hotel to the group for an estimated €120 (£100m). Although both parties have not commented on the agreed amount.
“Edwardian is delighted to have the opportunity to be involved in the further development of this landmark square in London,” COO at Edwardian Group, Paul Mansi, said. “Leisure experiences are at the heart of the company’s DNA and we are keen to create new and exciting offerings for the local market and the myriad visitors to the city.
“The acquisition, and our ambitious plans, will both create jobs in the area and put the spotlight firmly back on the re-vitalised Leicester Square,” he added.
The National Asset Management Agency manages problem loans taken on from Ireland’s banks during the global financial crisis. The Leicester Square Odeon was previously owned by Irish investors Pat Chesser, Pat Whelan and Paul Hanby.
The cinema recently held the UK premiere of Steven Spielberg’s War Horse.
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