Readings Cinema to Sell Major Burwood Development Site, Melbourne
MACQUARIE Capital Investors has been appointed to sell a 50 acre Burwood asset, in Melbourne, acquired by cinema group Reading in the mid 1990s.
The Burwood Square development site, approved by the Whitehorse Council in 2008, is reported to be worth about $46.7 million on Reading’s books.
The development proposal provides housing for more than 1000 residents on one part, according to the AFR. A mixed use residential, office and retail complex, and a 17-screen cinema is earmarked for another part.
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