The closure this week of the Vue Cinema in Grants in the town centre was down to the building’s new owners’ greed, in ratcheting up the rents for businesses already struggling for survival in Croydon’s run-down high street.
Blank screens: the Vue multiplex has operated 10 screens in the town centre since 2000
That’s according to the David Lean Cinema campaigners, who posted a hard-hitting assessment of the “extremely sad” situation as the 10-screen multiplex showed its last movie on Thursday.
The David Lean Cinema is the arthouse, 60-seat venue in the Croydon Clocktower, named after Croydon’s Oscar-winning film director.
Jason Perry and Croydon’s Conservatives tried to close the cinema in 2011, until Ronnie Corbett inspired a people-powered campaign, backed by Inside Croydon, which forced the local council to reopen the venue in 2014. It has been run by dedicated and committed volunteers ever since.
It seems unlikely that there will be any “Save the Croydon Vue” campaign.
Once again, Perry and his Tory council has been found wanting, failing to do anything about the impending closure until they read about it on this website.
The Vue closure, according to the lengthy statement posted on social media by the David Lean Cinema Campaign, will jeopardise the nigth-time economy, putting other businesses at risk.
“Crucially, the Vue had no intention to close,” the David Lean Cinema campaigners said in their post. A reduction in the number of screens had been considered as an option.
“So, depressingly, this closure is the result of a property developer with no apparent interest in cinema acquiring the building, and making it unaffordable for tenants to remain.”
Asian vibes: Tokia Square is the last business still operating in the Grants centre
MGI Holdings acquired the part-listed Grants building in a multi-million-pound deal in January this year. MGI has so far released no details of what they plan for the entertainment venue, and they failed to respond to appeals for meetings from Labour’s Rowenna Davis, their candidate for Mayor, and MP Sarah Jones to keep the Vue cinema open
“We’re painfully aware of the sense of loss that a cinema’s closure can cause,” the DLC post said, referring to their venue’s own period of closure. “It’s therefore extremely sad to see that Grants Vue will close…
“Irrespective of whether you also attended films at the Vue, you may agree that its closure is a blow to Croydon’s night-time economy and will impact upon local restaurants.
“Tokia Square – the Asian food court on the first floor, that only opened a year ago – will be the only business inside the building that’s still open, and the loss of their Vue customers will no doubt be a severe blow.
“Good wishes to the staff and patrons of Grant Vue; it was a very different cinema to the DLC but still a community that many valued, and it greatly widened the opportunities available to Croydon’s cinemagoers, with mainstream hits plus regular Bollywood films.”
Read more: Perry makes no formal intervention as Mayor over Vue closure
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It is terrible news that Croydon will be hit yet again, however I can’t really see how the mayor can intervene in a private business affair regarding rents. The main culprit, as this article suggests is unadulterated capitalist greed. Developers seem to exist in many cases as wolves in sheep’s clothing hell bent on destroying anything of value in favour of the highest possible profit. Their unlimited power should be curtailed – if the will to restrain capitalism exists in any meaningful way.
i would absolutely sign a petition to reopen the Vue – getting to Purley Way is quite a schlepp by public transport with kids
Sad to say that petitioning or campaigning against a local authority is a world of difference from lobbying big business.
Can anyone explain what the masterplan from the owners is here? Increasing the price is moot if there are no tenants, and a lack of tenants will destroy the longer term value when customers change their habits if the town centre is empty? This isn’t rhetorical – I’d really love someone who understands and believes in this change to write a Croydon Commentary article for IC, as I’d be keen to understand the thinking. Surely a bird in hand is worth two in the bush…
MGI Holdings specialise in residential and value added commercial property and as with all such firms always look to maximise profits, so only two scenarios, 1. knock it down and build high value residential flats, 2. commercially repurpose existing building for something more profitable. With the current state of Croydon option 2 would be a big ask so my guess would be option 1 assuming of course that they can get planning consent from the shortly to arrive new administration.
It’s your guess, Haydn.
But you’ve completely overlooked the listed status of the facia.
It was one of the delaying factors in the original development after the closure of Grants.