The closure of the Nu Metro movie complex at Beacon Bay Retail Park is on the cards, says Investec Property Group portfolio manager Greg Woerst.

Woerst said the discussions about a possible closure of the movie complex had been initiated by Nu Metro.

"We are formalising the final cancellation agreement and basically the closure is a fait accompli. We expect it to happen within the next few months," he said.

The closure of the Beacon Bay complex is directly attributed to a loss of earnings.

Woerst was commenting on a letter which staff members at the complex received from Nu Metro national operations manager Nicky Enslin.

In the letter to the approximately 20 staff members, Enslin referred to an earlier discussion with the staff "regarding the possible closure of your site, Beacon Bay".

He said although the closure had not been confirmed, discussions were currently taking place between Nu Metro and Growth Point Property Ltd, the landlord.

Enslin said if there were any further developments staff would be notified.

Woerst said the Investec Property Group represented the landlord in the closure discussions with Nu metro, who was represented by Nu Metro MD Fred Withers.

Beacon Bay Nu Metro manager Mark Hayne said he could not comment and referred the Daily Dispatch to Withers.

However, despite numerous calls by the Dispatch to Withers' cellphone and the Nu Metro offices for comment, no response has been received.

Nu Metro is a division of Johnnic Communications, the holding company which owns the Daily Dispatch.

In his letter to staff, Enslin said in the event of the complex closing Nu Metro would try to find alternative positions for affected staff at its other sites countrywide.

"Our sister companies would also be contacted to see if there are any suitable vacancies within their operations."

The closure may also impact negatively on East London movie goers who may have to pay more in future.

Ticket prices at Beacon Bay were much lower at R20 per ticket compared with some national prices, for instance R45 per ticket at the Montecasino complex at Four Ways.

At Hemingways tickets cost R12 while tickets at Vincent Park's Ster Kinekor complex sell for R14.

Woerst said his office would issue a press release next week in which details of the new tenant would be given.

Daily Dispatch