Prince Charles Cinema is listed as an asset of community value
Prince Charles Cinema

Prince Charles Cinema opened as a theater in 1962 and then became a cinema

One of London's most famous independent cinemas is listed as an asset of community value (ACV).

Prince Charles Cinema in Leicester Square announced that Westminster City Council awarded the title a few months after revealing why its landlords were looking for new terms.

The current lease for the cinema will expire in September and the owners of the building hope to raise the rent. This list gives local communities the right to try to raise funds and bid first if the building is sold.

The cinema calls it a "huge honor" but adds: "The battle continues to secure long-term rentals."

Black and white images of the cinema show the last tango in Paris Getty Images

The cinema is known for its unique programs and all-night movie marathons

If a building is listed as an ACV, its owner must notify the Council whether it is for sale. The local community can then invoke a six-month suspension of sales to give them the opportunity to raise funds and buy it on the open market.

However, it does not require the landowner to sell its property to the community community and does not mean that the landowner must continue to make any existing leases.

"While this recognition is a huge honor, the battle continues to receive long-term leases, which will allow us to invest in future developments and continue to bring the best work to Leicester Square," the cinema said in a statement on the listing.

“We think that any truly great venue is built on the shoulders of people working inside, and those who support it – we can’t ask thousands of people to sign petitions, buy tickets, become members or just keep looking for more enthusiastic and voice support through our doors.

“Thanks to everyone who took the time to support our cause.”

More than 160,000 people signed a petition to save the site.

Boogie Nights director Paul Thomas Anderson will have blood and inherent vices, previously speaking for the Leicester Square Cinema, which he calls “like you like your favorite radio station.”

Pulp novel and reservoir dog director Quentin Tarantino said it was “everything that independent cinema should be”, adding that “for fans of quality films, this is Mecca.”

The venue is one of the last remaining independent cinemas in central London, accusing landlord Zedwell LSQ of trying to "bully" the building.

Criterion Capital, parent company of Zedwell LSQ, said the terms of the new lease are standard practice and not unreasonable.