The Prince Charles repertory cinema in London’s Leicester Square announced that it has resolved its lease dispute by signing a new 25-year agreement with its landlord, Zedwell LSQ Ltd, which is owned by developer Criterion Capital. The cinema stated that the lease contains no break clause, providing stability for ongoing operations.
The lease renewal followed an extended period of negotiation that began in January 2025, when the cinema launched a public petition opposing the landlord’s demands for a break clause in the upcoming lease renewal. Such a clause would have allowed the landlord to terminate the arrangement with six months’ notice if alternative plans for the site emerged. Criterion Capital had previously denied claims that it was attempting to pressure the cinema out of the building.
The dispute generated substantial support from film enthusiasts and entertainment figures, including actor Paul Mescal and directors Danny Boyle, Robert Eggers, Christopher Nolan, and Edgar Wright. In May 2025, Westminster City Council designated the Prince Charles as an asset of community value.
Ben Freedman, the cinema’s owner, stated that the lease agreement provides confidence to invest in the venue’s future and maintain its role in the arts community. Vaqas Farooq, CEO of Criterion Capital, indicated that both parties worked collaboratively to reach a mutually acceptable solution, and noted that the landlord intends to develop a hotel on the building’s upper floors.
The Prince Charles, originally opened as a live theatre in 1962 and converted to a cinema in 1969, has operated as a repertory venue with discounted admission since 1991. Separately, another independent cinema, the Ultimate Picture Palace in Oxford, faces potential closure as its landlord, Oriel College at the University of Oxford, has declined to renew its lease beyond 2037.
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