Development group St Modwen has confirmed it has completed the deal which will see Reel Cinemas anchor its leisure scheme in Kirkby town centre, Merseyside.
The leading regeneration specialist announced last November that it was in talks with the national cinema group to bring a 15,000 sq ft six screen cinema to the town centre as part of its redevelopment.
The leisure scheme proposed will replace the former library on Newtown Gardens and will include three new leisure units.
Operating 15 units nationally, Reel Cinemas is one of the largest independent cinema operators across the UK.
Paul Batho, Projects Director at St. Modwen, said, 'Exchanging with Reel Cinemas marks a significant step forward in our development plans for Kirkby Town Centre.
'We know that the people of Kirkby want more leisure amenities in the town and a new cinema will make a big difference in transforming the town. We are also in talks with several national operators who are interested in the leisure units and we hope to make further announcements soon.'
Chris Morgan-Giles, Property Director of Reel Cinemas, said, 'We are delighted to complete on the deal to bring a six screen Reel Cinema to Kirkby. We look forward to bringing the people of Kirkby the quality cinema experience we know they have wanted for a number of years.
'We are continuing to grow the Reel Cinema's brand and Kirkby is one of four new cinemas we are bringing to the north west.'
A planning application is due to be submitted later this year for the leisure scheme once occupiers for the new leisure units have been identified, with opening planned for 2018.
St. Modwen also submitted a planning application in February to Knowsley Council for the retail phase of the redevelopment of Kirkby Town Centre.
The application follows collaboration with the Council to develop plans for the Town Centre and a major public consultation by St. Modwen which was held with local businesses, shopkeepers and residents in October 2016.
The planning application includes a supermarket, new shops, improved pedestrian links, car parking, new public realm and landscaping. The redevelopment will complement, enhance and integrate with the existing Town Centre shops and facilities.