Martin’s Properties has sold the former Fulham Road Picturehouse in London to a mixed-use leisure operator for an undisclosed price.
The site, which sits on the junction of Fulham Road, Drayton Gardens and Beaufort Street, opened in 1930 as a combined cinema and variety theatre and was acquired by Martin’s Properties in 2002.
The 46,000 sq ft property was refurbished by Picturehouse Cinema, the boutique arm of Cineworld in 2019, before Picturehouse ceased operations in July 2024.
Richard Bourne, CEO of Martin’s Properties, said: “The opportunity arose to reposition the property once Cineworld vacated last year. Our professional team worked closely with RBKC’s historic buildings advisors to create viable options to refurbish, extend and bring the building back to life. As a landmark property, our proposals for 142 Fulham Road offered a rare opportunity which we presented to potential occupiers.
“The sale of the property, and others in our portfolio, enables us to redeploy around £60m of capital into new acquisitions across London and Southern England – focusing on value-add opportunities and using the full breadth of services we have across the business.”
Tom Martin, chairman of Martin’s Properties, added: “Having held this iconic property as part of our UK portfolio for 22 years, we are pleased to be passing it over to a new owner/occupier who will treasure the building and leverage the opportunity for its community use for the next phase of its life.
“We are delighted that the purchaser wanted to acquire the site to sensitively bring the building back into active leisure use for local families and the community, with plans likely to retain two of the six cinema screens.”
James Donger, director of Savills development land, said: “On behalf of our client Martin’s Properties, Savills’ cross-sector team is incredibly pleased to have been involved in this important sale. The new owner’s vision for this local cherished site will undoubtedly contribute positively to the area, and we look forward to working closely with them as their mixed-use scheme takes shape.”
