Councillors have agreed to a multi-million-pound deal to buy out partners in the new Lichfield cinema development.
Lichfield District Council is working with Evolve Estates to create a new multi-screen cinema and food and beverage units in the former Debenhams part of the city centre’s Three Spires Shopping Centre.
During a meeting of the full council on Tuesday, councillors approved a buy-out clause in an agreement with Evolve Estates, which means the local authority will buy the 50 per cent share from the shopping centre owners two years after completion of the scheme.
The purchase will be at a pre-agreed price, initially estimated at £3.5 million.
Lichfield District Council has said this means that development work can start in earnest in the new year.
Councillor Doug Pullen, Leader of the Council, said: “This milestone is the result of extensive negotiations over many months with our partners.
“I am thrilled to launch this gateway project for the Birmingham Road Site, which, after decades of inactivity, signifies a new era for our city.
“We are committed to enhancing leisure and lifestyle opportunities in the district in line with the feedback we received during our extensive consultations with our residents.
“This development is just the beginning of our five-year journey to rejuvenate our city centre.
“The buyback clause gives us the expertise, support, and funding to launch the project whilst giving us the opportunity to retain the future benefits of the scheme in the district.
“People rightly have been keen to know who the new cinema operator will be. Final legal documents are now out with all parties and, upon exchange and completion, we will be able to make a shared announcement.
“I am also looking forward to being able to share news of some exciting new food and beverage brands that will be coming to Lichfield as part of the development and will give details in due course.”
Council reports state all but one of the units have been successfully pre-let.
