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 Melbournes 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 companys 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-1990s, 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 fathers 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.
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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 Australias Managing Director. We look forward to building on Readings 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 worlds 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 were 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/).
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 RDIs 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 Australias leading diversified property groups and is the Australian division of Frasers Property Limited. Weve 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 Hospitalitys 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 Propertys 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.
Reading International, Inc.
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