Speculation has sparked around the future of the abandoned Reading Cinema in Wellington CBD after it was bought by a property developer.

Located in Courtenay Place, the property had been abandoned since 2019 after it was deemed earthquake-prone.

The site was put on sale last April and was recently sold to Primeproperty Group for an undisclosed amount.

Local residents have expressed their hope that the redevelopment of the property will help reinvigorate the city’s CBD.

Ben, who manages nearby The Residence bar, told RNZ that the site should be turned into a bowling alley or mini-golf course or anything that draws people to the area.

Meanwhile, Libby Dearnley, co-owner of the Welly Collective, is expecting new amenities that will benefit Wellingtonians such as a little post office.

Others believed that whatever is being built should be accessible to all.

According to Wellington Mayor Tory Whanau, the sale of the property came as the city’s Golden Mile project, aimed to revitalise Courtenay Place, is set to begin this year.