CULVER CITY, Calif.--(BUSINESS WIRE)--
Reading International, Inc. (NASDAQ: RDI) (“Reading”) today announced that it will open a state-of-the-art cinema as part of the Millers Junction retail development in Melbourne, Australia in mid-2020.
Reading Cinemas Millers Junction will showcase the highest quality in Australian cinema as Western 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 cinema will also feature reclining seats in all auditoriums to ensure maximum comfort for guests.
The new six-screen Reading Cinemas will be positioned within the well-established retail precinct, on Millers Road, Altona North. “We are excited to partner with Charter Hall to bring such an advanced cinema to the inner western region of Melbourne,” said Mark Douglas, Reading Cinemas Australia’s Managing Director. “Altona North is a thriving area and we look forward to providing a theatrical experience for our new guests that is of a world class standard.”
Works are nearing completion on the $70 million Millers Junction redevelopment which commenced late in 2018 and will open its first stage later this year. This follows the successful completion of Stage 1 of Millers Junction Business which opened in late 2018, and Stage 2 which will complete in early in 2020.
Charter Hall’s Head of Diversified Development, Ben Dodwell, said “The deal with Reading Cinemas will see us welcoming this global brand to our mix at Millers Junction. Reading Cinemas have been a market leader in leisure and entertainment innovation; especially making the cinema experience accessible in Australia. Reading Cinemas, together with other local institutions such as the Jolly Miller Cafe, will complement the Millers Junction offer and pitch to local people who will soon be entertained and have a better range of shops and businesses in their local community.”
About Reading International, Inc.
Reading International, Inc. (NASDAQ: RDI) is a leading entertainment and real estate company, engaging in the development, ownership and operation of multiplex cinemas and retail and commercial real estate in the United States, Australia, and New Zealand.
The family of Reading brands includes cinema brands Reading Cinemas, Angelika Film Centers, Consolidated Theatres, and City Cinemas; live theatres operated by Liberty Theatres in the United States; and signature property developments, including Newmarket Village, Auburn Redyard, and Cannon Park in Australia, Courtenay Central in New Zealand and 44 Union Square in New York City.
Additional information about Reading can be obtained from the Company's website: .
About Charter Hall Group
Charter Hall Group (ASX: CHC) With over 28 years’ experience in property investment and funds management, we’re one of Australia’s leading fully integrated property groups. We use our property expertise to access, deploy, manage and invest equity across our core sectors – office, retail, industrial and social infrastructure. Operating with prudence, we’ve carefully curated a $34.6 billion diverse portfolio of over 840 high quality, long leased properties. Partnership and financial discipline are at the heart of our approach. Acting in the best interest of customers and communities, we combine insight and inventiveness to unlock hidden value. Taking a long term view, our $6.5 billion development pipeline delivers sustainable, technologically enabled projects for our customers. The impacts of what we do are far-reaching. From helping businesses succeed by supporting their evolving workplace needs, to providing investors with superior returns for a better retirement, we’re powered by the drive to go further.
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.
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