Martin’s Properties today announces the completion of the sale of 142 Fulham Road in London. A mixed-use leisure operator has purchased the landmark property with exciting plans to bring it back into active use and serve local residents.
The Former Fulham Road Picturehouse, located on the junction of Fulham Road, Drayton Gardens and Beaufort Street, opened in 1930 as a combined cinema and variety theatre. Taken over in 1935 by ABC, the venue became used as an exclusive cinema, later subdivided into six screening rooms. Acquired by Martin’s Properties in 2002, the 46,000 sq ft property, spread over lower ground, ground and three upper floors was refurbished by Picturehouse Cinema, a boutique arm of Cineworld in 2019, before Picturehouse ceased operations in July 2024.
Richard Bourne, Martin’s Properties CEO, comments: “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, comments: “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.”
Savills advised Martin’s Properties on the sale of 142 Fulham Road.
James Donger, Director of Savills Development Land, comments: “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.”
Martin’s Properties is a dynamic family-owned business with assets of approximately £400m. The team’s depth of expertise across investment, asset management, finance, development and operations spans many sectors and covers the whole lifecycle of assets from land to development, finance to transactions and management. As a responsible investor, Martin’s Properties also creates and manages sustainable buildings that positively impact local communities, businesses and stakeholders, delivering both strong returns and exemplary customer service.