Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search

 


Village Rialto Cinema’s new lease and upgrade

11 November 2004

National announces Village Rialto Cinema’s new lease and upgrade’

The National Property Trust (National) advises that it has secured Village Rialto Cinemas (Rialto) for a new 20 year term tenancy at the Rialto Centre Newmarket. Rialto will lease an area representing 24% of the total available space cementing its position as an important anchor tenant in the Rialto Centre.

Rialto and National will upgrade the existing five cinema complex to a modern standard and add two more cinemas. The upgrade will include a repositioned and refurbished foyer, new café and concession area, new auditorium seating, new floor coverings, toilet facilities, sound insulation upgraded to a high industry standard and a general refurbishment throughout the premises.

National intends to spend approximately $2.4 million on refurbishment and Village Rialto will refit the cinemas including new seating and enlarged concessions/ticketing foyer.

“We are very pleased that Rialto has endorsed the importance of the existing cinema location and with its commitment to upgrade the cinemas to a high standard. Securing this relationship well into the future will give confidence to the existing Rialto Centre tenants all of whom will benefit from the anticipated increased foot traffic.

The significance of signing both Village Rialto Cinema’s and Supre as anchor tenants for the Rialto Centre will be realised in coming years as the cash flow benefits arise” said Mr Dallimore, Executive Chairman.

Work has already begun on re-mixing the Rialto Centre upper level tenants to accommodate the proposed changes.

Construction is due to commence in February 2005.

ENDS

© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

I Sing The Highway Electric: Charge Net NZ To Connect New Zealand

BMW is turning Middle Earth electric after today announcing a substantial contribution to the charging network Charge Net NZ. This landmark partnership will enable Kiwis to drive their electric vehicles (EVs) right across New Zealand through the installation of a fast charging highway stretching from Kaitaia to Invercargill. More>>

ALSO:

Watch This Space: Mahia Rocket Lab Launch Site Officially Opened

Economic Development Minster Steven Joyce today opened New Zealand’s first orbital launch site, Rocket Lab Launch Complex 1, on the Mahia Peninsula on the North Island’s east coast. More>>

Earlier:

Marketing Rocks!
Ig Nobel Award Winners Assess The Personality Of Rocks

A Massey University marketing lecturer has received the 2016 Ig Nobel Prize for economics for a research project that asked university students to describe the “brand personalities” of three rocks. More>>

ALSO:

Nurofen Promotion: Reckitt Benckiser To Plead Guilty To Misleading Ads

Reckitt Benckiser (New Zealand) intends to plead guilty to charges of misleading consumers over the way it promoted a range of Nurofen products, the Commerce Commission says. More>>

ALSO:

Half A Billion Accounts, Including Xtra: Yahoo Confirms Huge Data Breach

The account information may have included names, email addresses, telephone numbers, dates of birth, hashed passwords (the vast majority with bcrypt) and, in some cases, encrypted or unencrypted security questions and answers. More>>

ALSO:

Rural Branches: Westpac To Close 19 Branches, ANZ Looks At 7

Westpac confirms it will close nineteen branches across the country; ANZ closes its Ngaruawahia branch and is consulting on plans to close six more branches; The bank workers union says many of its members are nervous about their futures and asking ... More>>

Interest Rates: RBNZ's Wheeler Keeps OCR At 2%

Reserve Bank governor Graeme Wheeler kept the official cash rate at 2 percent and said more easing will be needed to get inflation back within the target band. More>>

ALSO:

Get More From Scoop

 
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news