Greig Wilson: Wellington's Reading Cinema complex sold

Wellington's Reading Cinema Complex has sat empty on Courtenay Place for six years, but has now been purchased by Wellington's Prime Property Group. 

Epic Hospitality Group owner Greig Wilson says the building's closure in 2019 had an immediate effect on business revenue on the street. 

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Episode Transcript

Speaker 1 (00:09):
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Speaker 2 (00:16):
Yes, and Wellington's infamous Reading cinema site has been sold.
For more than six years, it sat empty on Courtney Place,
to the dismay of local businesses. It's unclear at this
stage what plans are in place with the complex. However,
well known local developer has purchased the site. Nearby business
owner from Epic Hospitality, Greg Wilson joins me. Now, Greg,
good morning, good morning, Term. So this is good news

(00:38):
for you guys.

Speaker 3 (00:40):
Oh, this is great news for the area. Tomally, remember
six years ago when the last when the Reading building closed,
there was an immediate effect on revenue for businesses up
and down the Courtney Place. And ever since, you know,
it's been lying dormant. It's really had a big gat
in the street.

Speaker 2 (00:58):
How bad has it been having that complex empty? It's
been how many years? Six years?

Speaker 3 (01:02):
Is it? Yeah? Six six years? Term? Yeah, you know,
I describe it as an anchor tenancy, you know for
the street and Courtney Places, Welton's hospitality, you know, precinct
area withoud loaded with restaurants and bars and having a
large movie complex I think at the six or seven
movie theaters, having that sort of anchor tentent in the
area drives people to the area in the early part

(01:23):
of the evening and so it's the early part of
the people coming out for dinner and cocktails and go
the movie afterwards that that's been missing for the strip.
And so what's happened is we've had, you know, the
past the night crowd still turn up, the party crowds
still turner, which is you know, which is good. But
the early part of the evening when people are you
know less intoxicated and coming out for food, in a drink,

(01:45):
in a movie, you know, that's the surreal value on
that are part of hospitality, and that's the bit that
most of most of the stripper own business war.

Speaker 2 (01:52):
What do you hope to see in the new complex?

Speaker 3 (01:55):
Well, we look, we're slightly nervous time we we we
we look at the Moor Hotel. We know that Pim
Property owned More hotel and that's been sitting the rotting
in the ground for the last ten years. So we're
slightly nervous that it might be lend banked. We're hope
and that's not the case. We're hoping that it's going
to be brought back to its former glory of a
movie complex and some retail and some hospitality and from

(02:18):
the room and mill, that's what we're hearing. We're hearing
it that's most likely. So we're hoping that'll that'll be
the case.

Speaker 2 (02:25):
Is it a sign of Is it a sign of
business confidence in the capital that makes you optimistic?

Speaker 3 (02:30):
Yeah? That is actually it is. It absolutely is. You know,
you think about what's happening in Courtney Place. It's had
a tough time for a while. We've had a lot
of closures over the last couple of years since COVID,
but you know, we've bought Courtney Place back. We've had
Courtney Carnival over New Year's Eve where we close the
street down. I've got great support from the council and
we attracted more than ten thousand people to Courtney Place

(02:51):
for the earlier part of the evening with bands and
DJs and street performers, and that was a raving success.
And you know they're going into the new year we
have this news, so yeah, it's very positive news for
the city. And Wilton's been hammered with earthquake praying buildings
over the last number of years, with the library and
town hall and there and so, why don't I feel

(03:12):
that the earthquake rules have gone a little bit too far?

Speaker 2 (03:14):
Yeah yeah, now good on you, hey, Greg. And place
to place that you guys have got some news to celebrate.
There that is the owner of Epic Hospitality, Greg Wilson.

Speaker 1 (03:23):
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