Hurstwood Holdings has launched its 2026 growth strategy with the purchase of a 42,000 sq ft multiplex cinema in the heart of Lancaster, reinforcing the company's expansion across the UK commercial property market.

The six-auditorium venue sits on a prime two-acre freehold plot and is the only multiplex serving Lancaster city centre. Operated by Vue Cinemas, the site has been identified by Vue as a key city-centre location and earmarked for further investment, underscoring its long-term potential.

The transaction builds on Hurstwood's existing footprint in Lancaster, where it already owns two significant industrial sites. With Lancaster recognised as a major student city and its population growing, the acquisition aligns with Hurstwoo'’s focus on high-quality assets in strong regional centres with enduring growth prospects.

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Darren Moorhouse of King Street Real Estate worked closely with Stephen Ashworth and the Hurstwood team to navigate a complex process on a tight timetable, completing the deal in under 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 continued: "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 the deal were managing director Andy Park and in-house legal adviser Jayne Hindle, who worked alongside Gateley, the firm providing legal advice.

The Manchester-headquartered Hurstwood Holdings Group owns and manages a national portfolio valued at over £400 million and supports more than 1,500 occupiers across England, Scotland and Wales.