Reading International Announces State-of-the-Art Cinema Complex for Burwood Brickwords
- Expects to open late 2019
CULVER CITY, Calif.–(BUSINESS WIRE)–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.
Contacts
Investor Contact:
Reading International, Inc.
Andrzej
Matyczynski, Executive Vice President – Global Operations
(213)
235-2240
Media Contacts:
Joele Frank, Wilkinson Brimmer Katcher
Kelly
Sullivan or Matthew Gross
(212) 355-4449