Room for partnership?

Cinema operators say rents expectations in retail and leisure centres are more than the cinema market can support. Landlords, as you might expect, disagree. Is there room for compromise? At the highpoint in the market rents for cinemas rose to USD 15-17 sqm, and in certain cases over the USD 20 sqm mark, says Sean Bobbitt, Managing Director of Silver Screen World Cinemas. Bobbitt believes that the downturn in the cinema market since deals such as this were signed necessitates that landlords adjust their rent demands to 'realistic' levels. ,Rents in Poland are higher than in EU levels while ticket prices are lower. Operators originally felt this could be compensated for by higher admission levels, but with the economic downturn this simply didn't happen," he says. ,What is needed is a partnership approach, with operators lowering rents but taking a share in the upside if the market returns. No operator will be willing to subsidise his operations indefinitely and wi