10/12/1996

Summit Property Completes New Cinema For Odeon

On December 10th, Odeon opened their new 8 screen multiplex in Upper High Street, Epsom. Developed for them by Summit Property, the shell building was handed over in phases to allow Odeon early access for a fast track fit-out.

Odeon occupy the building under a lease for 25 years at an initial rent of £500,000 (approximately £12.50 per sq. ft.). Summit Property forward sold the investment to Unilever Superannuation Fund at a yield of 6.75%. FPD Savills acted for Summit Property in the letting and funding, Lambert Smith Hampton acted for Odeon and Jones Lang Lasalle acted for the fund.