Cult venue Prince Charles cinema ‘saved’ after lease renewal signed

The iconic Prince Charles repertory cinema in London's Leicester Square has dodged closure after signing a new 25-year lease with its current landlords. The much-adored institution, which has struggled with threats of closure since January 2025, announced on social media that it was "delighted to have secured the future of the cinema" following 21 months of uncertainty.

The agreement, signed with The Zedwell LSQ Ltd (owned by developer Criterion Capital), includes no break clause, ensuring the theater will remain open for years to come.

The landlord, Zedwell LSQ Ltd, had initially demanded a break clause in the lease when it was set for renewal in September 2025. This would have allowed them to give the cinema six months' notice if they had other plans for the site. Criterion Capital denied bullying the cinema but the threat sparked significant support from film fans and industry figures, including actors Paul Mescal and directors Danny Boyle, Robert Eggers, Christopher Nolan, and Edgar Wright.

In May 2025, Westminster City Council designated the building as an asset of community value. Ben Freedman, the owner of the Prince Charles, expressed relief at the new lease agreement, saying, "Our cinema means an enormous amount to our team, our audiences and the wider arts community. Having this security gives us the confidence to invest in the cinema's future and continue providing a home for film lovers."

Criterion Capital CEO Vaqas Farooq also welcomed the agreement, stating, "We are delighted to have agreed terms which secure [the Prince Charles’] future ... I'm particularly pleased that together we were able to work through a set of complex issues and find an equitable solution for both parties." The landlords, however, plan to develop a hotel on the upper floors of the building.