292 Rundle Street Adelaide
Hines Property has acquired a prime 1,800sqm holding at 274A & 292 Rundle Street, Adelaide. Located in the heart of Adelaide’s East End precinct, Rundle Street is widely regarded as the city’s premier shopping and café strip.
The property is leased to Palace Cinemas and Nova Cinemas, a joint venture between the two cinema groups. Palace Cinema Group and Nova Cinemas operate cinemas across Australia in all the major capital cities.
During 2016, a major refurbishment of the property was undertaken reconfiguring the existing cinemas and increasing the screens from 6 to 11, with a capacity for more than 730 patrons. An upgrade of technology and seating was also undertaken.
The property benefits from dual access points to Rundle Street and provides significant future development potential.