The Reading Cinemas in Wellington CBD will reopen under a new owner after being abandoned for nearly six years.

The news came after speculation that the property would be turned into a bowling alley, mini-golf course or a post office.

Located in Courtenay Place, the property had been abandoned since 2019 due to risks of earthquakes. The Wellington City Council previously agreed to buy the land for $32 million but later gave up on the plan, resulting in the site being put up for sale last year.

Primeproperty Group, which bought the property for $38 million, recently announced their intention to lease it back to operators of Reading Cinemas once earthquake strengthening is completed, according to Radio New Zealand.

In addition, the mall area of the site will also be expanded to provide new retail and dining options on top of the cinemas.

“Together with Reading Cinemas Courtenay Central Limited we will ensure that Wellingtonians have access to a world-class cinematic experience, while the new retail and hospitality offerings will help reinvigorate the area,” said Primeproperty Group CEO Eyal Aharoni.

Aharoni expects the work to take about 18 months and that the redevelopment would provide employment opportunities during the construction phase and in the longer term once the facility opens.

Wellington councillor Tim Brown described it as a “win-win for everybody”. Local business owners also have high hopes for the redevelopment as they expect it would attract people back to the city’s entertainment district.