The Light seeks to replicate success of Wisbech cinema with acquisition of multiplex in Cambridge
- Credit: Archant
Wisbech cinema is spreading the light with a take-over of Cineworld at Cambridge, it was announced on Friday.
The Light Cinema, which opened last year on Cromwell Road, hopes to follow its Fenland success with the take-over of the nine screen city cinema.
The Cambridge cinema, which was acquired from Land Securities’ Cambridge Leisure Development opened as The Light on Friday, January 30, joining The Light in Wisbech as the second in the county.
Keith Pullinger, Chief Executive of The Light, said: “We are really excited to be launching The Light in Cambridge, our second cinema in Cambridgeshire, and to have the opportunity to provide a high quality cinema experience to everyone in Cambridge.
“As with all our sites, we will work with the local community to ensure we provide a programme of film and events to suit the customers and are committed to the creation of a social hub for leisure and events in the heart of the city.”
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While much currently remains the same at the site, which also features a bowling alley, hotel, supermarkets and restaurants in the development, in time the cinema will be rebranded and restyled to give it the same look as Wisbech and its sister cinema in New Brighton on the Wirral.
The management team are also delighted to announce that all members of the team who were previously employed by Cineworld have chosen to join The Light. The company has confirmed that it will honour “Cineworld Unlimited” membership cards for a period of three months from 30 January, during which time they will be talking to their customers to understand what sort of loyalty scheme they want to see in place going forward.
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The acquisition of the cinema has been funded by a £5.2m growth capital investment from Connection Capital, the leading private investor business. The commitment from Connection Capital’s clients has been supported by £4.5m of funding from Santander, through its Breakthrough programme.
The investment will be used to fund the rollout of further sites in the UK, including a three-screen cinema in Thetford. Other sites include Bolton, Sheffield, Dundee, Stockport and Walsall.