- Expects to open
late 2019
Reading International, Inc. (NASDAQ: RDI) (“Reading”) today
announced that it will open its most advanced Australian cinema at
the brand new Burwood Brickworks development in Melbourne,
Australia, in late 2019.
Reading Cinemas Burwood Brickworks will showcase the Gold
standard in Australian cinema as Melbourne’s first premium TITAN
LUXE auditorium with convenient reserved seating, the newest Dolby
Atmos immersive sound and enhanced food and beverage offerings. The
new complex will be the company’s first cinema in Australia to
feature reclining seats in all auditoriums.
The new six-screen Reading Cinemas complex will be positioned on
the ground level of Burwood Brickworks shopping centre, on the
corner of Middleborough and Boulevard Roads.
Reading International acquired the former Burwood Brickworks
property in the mid-1990’s, when it first entered the Australian
market. The property was later sold to a predecessor company of
Frasers Property Australia. The 13,900 square meter Burwood
Brickworks shopping centre will be the heart of the mixed-use
community.
Ellen Cotter, Chair and Chief Executive Officer of
Reading International, commented: “Our new Reading Cinema at the
Burwood Brickworks will offer a first class cinematic experience.
We are thrilled, not only to partner with Frasers at Burwood
Brickworks, but also to be finally delivering on the vision that my
father and Reading founder, James J. Cotter, Sr., had to open a
state-of-the-art cinema on the Burwood property. Many Reading
executives fondly remember the long conversations decades ago
regarding my father’s aspirations to entertain the Burwood
community. From service to presentation and curated programming, we
are committed to creating a movie theater that will set new
standards for both this community and Reading.”
“We are excited to partner with Frasers Property to bring our
most advanced cinema complex ever to the inner city of Melbourne,”
said Mark Douglas, Reading Cinemas Australia’s Managing
Director. “We look forward to building on Reading’s long
association with the Burwood site to provide a theatrical
experience for guests that is of a world class standard.”
Frasers Property is aiming for the shopping centre at Burwood
Brickworks to be the first retail development in the world to
achieve Living Building Challenge™ certification, meaning it will
generate more energy than it consumes on an annual basis. Reading
Cinemas at Burwood Brickworks will be designed and built to meet
Living Building Challenge™ certification requirements and the
complex will sit in what is anticipated to be the world’s most
sustainable shopping centre. A mix of on-site rooftop solar PV and
off-site renewable energy, utilizing the latest in battery storage,
will generate 105% of the energy required for the building.
Peri Macdonald, Executive General Manager – Retail,
Frasers Property Australia, said, “Reading Cinemas will attract
visitors from near and far to Burwood Brickworks shopping centre. A
cinema offering was always a key feature of the super-neighbourhood
centre we envisaged at Burwood Brickworks, and we’re pleased
Reading Cinemas will anchor the entertainment precinct for the
community. The new Reading Cinemas will become a natural focal
point for the community, encouraging people to visit the new
centre, spend time and socialise. Of course, for Burwood Brickworks
residents, catching the latest films will be only a short walk from
home.”
About Reading International, Inc.
Reading International (http://www.readingrdi.com) is a publicly
listed company in the United States (NASDAQ: RDI), which is in the
business of owning and operating cinemas and developing, owning and
operating real estate assets. Our business consists primarily of
the development, ownership and operation of multiplex cinemas in
the United States, Australia and New Zealand; and the development,
ownership and operation of retail and commercial real estate in
Australia, New Zealand and the United States, including
entertainment-themed retail centers in Australia and New Zealand
and live theater assets in Manhattan and Chicago in the United
States.
Reading manages its worldwide cinema business under various
different brands in the United States, under the Reading brand
(http://www.readingcinemasus.com), Angelika Film Center brand
(http://www.angelikafilmcenter.com), Consolidated Theatres brand
(http://www.consolidatedtheatres.com); and City Cinemas brand
(http://www.citycinemas.com). In Australia, Reading owns and
manages the Reading brand (http://www.readingcinemas.com.au); and
in New Zealand, the Reading brand (http://www.readingcinemas.co.nz)
and Rialto (http://www.rialto.co.nz) brands. Its live theatres
operate under the Beekman Theatre brand
(http://www.beekmantheatre.com), The Paris Theatre brand
(http://www.theparistheatre.com); and Liberty Theatres brand
(http://libertytheatresusa.com/).
Forward-Looking Statements
This press release contains certain statements that are
“forward-looking statements” within the meaning of Section 27A of
the Securities Act of 1933 and Section 21E of the Securities
Exchange Act of 1934. Such statements are qualified by the inherent
risks and uncertainties surrounding future expectations generally
and also may materially differ from actual future experience
involving any one or more of such statements. Such risks and
uncertainties include the possibility that the actual market share
of the acquired cinemas and anticipated reduction in the
acquisition financing will differ from these forward-looking
statements, as well the risks and uncertainties set forth from time
to time in RDI’s filings with the Securities and Exchange
Commission. The inclusion of a forward-looking statement in this
press release should not be regarded as a representation by RDI
that its objectives will be achieved. RDI undertakes no obligation
to publicly update forward-looking statements, whether as a result
of new information, future events, or otherwise.
About Frasers Property Australia
Frasers Property Australia Pty Limited is one of Australia’s
leading diversified property groups and is the Australian division
of Frasers Property Limited. We’ve been creating memorable places
in Australia since 1924. Our current activities covering the
development of residential land, housing and apartments,
commercial, retail and industrial properties, investment property
ownership and management, and property management.
Being part of a global group opens up a world of opportunities
for our customers. Frasers Property Australia appreciates its
customers and rewards their loyalty through Prosperity, a national
customer care and loyalty program providing residential customers
with generous purchase and referral rewards, plus benefits at
Frasers Hospitality’s serviced hotel residences and boutique
lifestyle hotels around the world.
Sustainability is at the heart of our operations. The company
creates places where resources are re-used, recycled and restored.
It fosters new ideas to support people and the planet, and
undertakes tangible initiatives to help people lead happier,
healthier lives. Driven by a highly experienced team of people
committed to delivering memorable experiences for our customers,
the core values of our global group are collaborative, respectful,
progressive and real.
For more information about FPA, visit
frasersproperty.com.au.
About Frasers Property Limited
Frasers Property Limited (“Frasers Property” and together with
its subsidiaries, the “Group”), is a multi-national company that
owns, develops and manages a diverse, integrated portfolio of
properties. Listed on the Main Board of the Singapore Exchange
Securities Trading Limited (“SGX-ST”) and headquartered in
Singapore, the Group has total assets of approximately S$32 billion
as at 30 September 2018.
Frasers Property’s assets range from residential, retail,
commercial and business parks, to logistics and industrial in
Singapore, Australia, Europe, China and Southeast Asia. Its
well-established hospitality business owns and/or operates serviced
apartments and hotels in over 80 cities across Asia, Australia,
Europe, the Middle East and Africa. The Group is unified by its
commitment to deliver enriching and memorable experiences to
customers and stakeholders, leveraging on its knowledge and
capabilities from across markets and property sectors, to deliver
value in its multiple asset classes.
Frasers Property is also the sponsor of three real estate
investment trusts and one stapled trust listed on the SGX-ST.
Frasers Centrepoint Trust, Frasers Commercial Trust, and Frasers
Logistics & Industrial Trust are focused on retail, commercial,
and logistics and industrial properties respectively. Frasers
Hospitality Trust (comprising Frasers Hospitality Real Estate
Investment Trust and Frasers Hospitality Business Trust) is a
stapled trust focused on hospitality properties.
For more information on Frasers Property, please visit
frasersproperty.com.
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version on businesswire.com: https://www.businesswire.com/news/home/20190219005652/en/
Investor Contact:Reading International, Inc.Andrzej
Matyczynski, Executive Vice President - Global Operations(213)
235-2240
Media Contacts:Joele Frank, Wilkinson Brimmer
KatcherKelly Sullivan or Matthew Gross(212) 355-4449
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