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The Light House Cinema Makes A Return

pfkf1

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May 19, 2007
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The Light House cinema will make a return to Dublin after a 12 year gap on the 9th of May. This will increase the number of Art House cinemas in Dublin city to 2. This will be a fantastic addition to the capitals culture, it will be located in Smithfield, are people looking forward to its reopening and do you think that Dublin could do with more Art House cinemas or is there a market for them in such a commercial industry?
 


Urmentor

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Sadly its days look numbered due to 200 per cent rent increase. Saw some great movies there.
Sign of the times I guess but very sad to see it go.
 

fluffykontbiscuits

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Ah shite its one of the best cinemas in Dublin , saw some good movies. How can any landlord justify increasing rent by that much in wake of the current economic situation?
 

stripey cat

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They need the rent increase to justify the supposed value of the building, and by extension all the other buildings that are on loan books.

It is loopy that a really good cinema (which is thriving) has to close to meet the demands of our property cult.
 

fluffykontbiscuits

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They need the rent increase to justify the supposed value of the building, and by extension all the other buildings that are on loan books.

It is loopy that a really good cinema (which is thriving) has to close to meet the demands of our property cult.
They should get it revalued then!If the rent is increasing sureley this is not justifiable?
 

borntorum

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They need the rent increase to justify the supposed value of the building, and by extension all the other buildings that are on loan books.

It is loopy that a really good cinema (which is thriving) has to close to meet the demands of our property cult.
I don't know if it is thriving, although it was jam-packed for Of Gods and Men recently.

I'll be distraught if the Lighthouse closes, it's probably the only good thing about Smithfield which is a bit of a kip again these days. You'd wonder what the landlord is up to
 

fluffykontbiscuits

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I don't know if it is thriving, although it was jam-packed for Of Gods and Men recently.

I'll be distraught if the Lighthouse closes, it's probably the only good thing about Smithfield which is a bit of a kip again these days. You'd wonder what the landlord is up to
+1 The amount of scumbags I come across is unbelievable in what is suppose to be a yuppy sort of area. The apartments in that area are crazy prices to rent as well. A one bedroom at the peak of the boom was a grand a month
 

Stating the Obvious

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I'll be very disappointed and amazed if this closes. I've never seen any evidence that it was suffering a lack of trade - it seems to do very well. There's no such thing as a struggling cinema in Ireland these days, even the arty-farty ones.

Smithfield has regressed a lot in the last 2 years and this would be a massive, massive blow. I notice that the Italian restaurant nextdoor closed in the last couple of months as well.

How can it make sense for the landlord to double the rent, thereby losing €100k a year (it will most definitely remain empty), just to maintain the ludicrous notion that it is worth more than it is?

And how can the book-value of a property be based on its rental value? If I look for €1 million a year to rent my house, does this mean the value of it will be many multiples of that? Sounds like bullsh*t to me.

I hope this Flynn character gets his commuppence.
 

stripey cat

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How can it make sense for the landlord to double the rent, thereby losing €100k a year (it will most definitely remain empty), just to maintain the ludicrous notion that it is worth more than it is?
That's what the idea of a recovery in the property sector is based on, and without it, our banks would be in even worse position than they are.

The rent increase was agreed years ago, and presumably the owner of the building borrowed the money to build it based on the value of the rents he could get.
 

ottovonbismark

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Aug 30, 2009
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i for one will be very disappointed if the lighthouse cinema goes. it's a rear gem in an otherwise drab area.


the rent increases to bump up book values of commercial properties, 1 bed apts in many areas of the city 1,000pm still, NAMA destroying free market forces to bump up property prices etc all comes back to the same old thing.....

Denial is a policy - it has been for a decade now and is certainly going to continue.
 

Urmentor

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Apparently rents are done on projected earnings. I think its time these tenants form their own group and buy their own premises.
What is happening is that landlords want the greatest return on their property. Value of the lease is totally unrelated.
Something has to be done though. The small businesses are being squeezed out to make way for the bigger businesses.
Lighthouse Cinema should have been protected though.
 

ottovonbismark

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Aug 30, 2009
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that whole area of smithfield is a bit of a disaster though in terms of commercial activity. most of the units are empty. looks like the cinema is next to go.
 

Master Debater

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Feb 25, 2010
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Any truth to the rumours that the landlord is putting in an equestrian supplies shop ? :lol:
 


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