Hurstwood Holdings has kick started its 2026 expansion programme with the acquisition of a prominent 42,000 sq ft multiplex cinema in the heart of Lancaster city centre, further strengthening its continued growth across the UK commercial property sector.
The six-auditorium cinema is situated on a prime two acre freehold site and is the only multiplex cinema serving Lancaster city centre. Operated by Vue Cinemas, the asset has been identified by Vue as one of its key city centre locations and earmarked for further investment, underlining the long term potential of the site.
This latest acquisition builds on Hurstwood Holdings’ established presence in Lancaster, where it already owns two key industrial sites. With Lancaster recognised as a major student city and benefiting from a growing population, the investment aligns with Hurstwood’s strategy of targeting high quality assets in strong regional centres with long-term growth fundamentals.
Darren Moorhouse of King Street Real Estate worked closely with Stephen Ashworth and the Hurstwood team navigating a complex process under tight deadlines in order to complete the deal in less than five weeks.
Commenting on the acquisition, Stephen Ashworth, CEO and Chairman of Hurstwood Holdings, said: “This acquisition marks a strong and positive start to our 2026 expansion plans. Lancaster is a city we know well and believe in, and this cinema occupies a truly strategic position in the heart of the city centre. It offers significant potential through continued investment and active asset management, particularly given Vue’s commitment to further refurbishment. This acquisition aligns with our continued commitment to growing our diversified commercial portfolio and investing in assets that support regional economies, leisure infrastructure and long-term value creation.”
Stephen continues: “I also want to acknowledge Handelsbanken, which provided the funding for this acquisition, marking the first deal that we have completed with the bank. Handelsbanken recently supported the refinancing of a £15 million mixed-use portfolio of ours comprising industrial, retail and leisure assets for Hurstwood Holdings and we are pleased to be able to grow our working relationship.”
Also instrumental in this successful deal was managing director, Andy Park and Hurstwood’s in house legal advisor, Jayne Hindle worked alongside Gateley, who provided the legal advice.
The Hurstwood Holdings Group, headquartered in Manchester, owns and manages a national portfolio valued at over £400 million and supports more than 1,500 occupiers across England, Scotland, and Wales.
