Ormonde Cinema is let in €250k deal after makeover
A DUBLIN cinema has been let to Europe's largest chain, ODEON/UCI cinemas, for €250,000, it is understood.
The Ormonde Cinema in Stillorgan is the first cinema to be let so far this year.
The seven-screen multiplex is currently closed for extensive refurbishment to include digital projection in all screens, five 3D screens and new seating throughout.
The premises will re-open on July 15 in time for the opening of the last Harry Potter instalment.
The Stillorgan 1,521sq m (16,372sq ft) venue is owned by O'Gorman Cinemas who were advised by Stephen McCarthy of Savills on the letting.
President of the Stillorgan Chamber of Commerce Frank Murphy could not confirm that the rent agreed was €250,000. However, he told the Herald that the letting was one of 10 similar developments which are bringing hope to the region.
"There have been 10 new 'shops' or developments in the area in the last 12 months, the last of which came from Donnybrook Fair who opened a very big store here two weeks ago," he said.
"It's good news for Stillorgan to know that so many people have actually gone out in the present recession and spent their money as late as last week."
Mr Murphy believes that while Stillorgan had often been seen as "backwater", it had now become a place to visit instead, "a destination".
"It goes to show that people are coming to Stillorgan, or staying here for their leisure activities, rather than go to Blackrock, Dun Laoghaire and Dundrum," Mr Murphy insisted. ODEON/UCI cinemas announced the acquisition in Ireland of nine existing cinemas and two pipeline cinemas last month from Entertainment Enterprises Group.
The existing cinemas are the two former UCI cinemas at Blanchardstown and Coolock, five Storm Cinemas, the newly opened UCI at Newbridge and the Stillorgan cinema.
Entertainment Enterprises has also signed leases to operate a nine screen cinema at Charlestown and a six screen cinema at the Point in Dublin which will both be operated by Odeon/UCI.
The group is also currently in discussions to include a 400 seat IMAX screen at the Point.