NI interests fight over Bournemouth’s white elephant

Bournemouth, England

Apparently the Northern Ireland Local Government Officers’ Super-annuation Committee holds the lease to Bournemouth’s biggest white elephant (aka Britain’s second ugliest building), the IMAX cinema right down on the sea front, next to the pier. It has been closed since early last year. They have been in dispute with the operating group Sheridan, which Nilgosc claim has defaulted on the terms of the lease, by ceasing to operate the Cinema.

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  • Why do Nilgosc hold the lease?

  • ceemage

    Probably just a pure investment. When I was involved in the accounting for a mainland local government pension fund, we owned significant chunks of Bond Street for much the same reason. Commercial rents are usually considered quite low-risk.

  • Cybez

    thnx ceemage :-)it makes a change a group connected with Norn Iron being in a dispute.

  • Brenda

    It IS ugly!! No disputing that.

  • Seán

    What is it with NI and white elephants?