READING INTERNATIONAL INC
For the period ended Dec 31, 2025. Filed Mar 31, 2026.
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FY2025 · Filed Mar 31, 2026
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Item 2. – Properties
ies
OPERATING PROPERTY
As of December 31, 2025, we own fee interests across our two operating segments in approximately 429,000 square feet of income-producing properties (including certain properties principally occupied by our cinemas) as follows:
| Property | Square Feet ofImprovements(rental/entertainment/office)(1) | Percentage Leased(2) | Net BookValue(3) (US Dollarsin thousands) | ReportingSegment | Address |
|---|---|---|---|---|---|
| United States | |||||
| 1. Cinemas 1,2,3 | 0 / 24,000 | n/a | $24,085 | Cinema Exhibition | 1003 Third Avenue, Manhattan, NY |
| 2. Minetta Lane Theatre | 0 / 9,000 | n/a | 2,184 | Real Estate | 18 Minetta Lane, Manhattan, NY |
| 3. Orpheum Theatre | 0 / 5,000 | n/a | 1,242 | Real Estate | 126 2nd Avenue, Manhattan, NY |
| 4. 44 Union Square | 73,000 / 0 | 37% | 93,214 | Real Estate | 44 Union Square E, New York, NY 10003 |
| Australia | |||||
| 1. Newmarket Village | 102,000 / 42,000 | 98% | 35,741 | Cinema Exhibition / | 400 Newmarket Road, Newmarket, QLD |
| plus 576 parking spaces · Real Estate | |||||
| 2. Newmarket Office | 21,000 / 1,000 | 100% | 4,899 | Real Estate | 16-20 Edmondstone Street, Newmarket, QLD |
| 4. Belmont | 15,000 / 45,000 | 100% | 4,254 | Cinema Exhibition | Knutsford Avenue and Fulham Street,Belmont, WA |
| 5. York Street Office | 3,000 / 5,000 | 100% | 1,327 | Real Estate | 98 York Street, South Melbourne, VIC |
| 6. Bundaberg Cinema | 0 / 14,000 | n/a | 929 | Cinema Exhibition | 1 Johanna Boulevard, Bundaberg, QLD |
| New Zealand | |||||
| 1. Dunedin Cinema | 0 / 25,000 | n/a | 4,246 | Cinema Exhibition | 33 The Octagon, Dunedin |
| 2. Napier Cinema | 8,000 / 18,000 | 100% | 1,277 | Cinema Exhibition | 154 Station Street, Napier |
| 3. Rotorua Cinema | 0 / 19,000 | n/a | 1,254 | Cinema Exhibition | 1281 Eruera Street, Rotorua |
| TOTAL(4) | $174,652 | ||||
(1)Rental square footage refers to the amount of potential area available to be rented to third parties. A number of our real estate holdings include entertainment and office components rented to one or more of our subsidiaries at fair market rent. The rental area to such subsidiaries is noted under the entertainment square footage.
(2)Represents the percentage of available rental square footage currently leased or licensed to third parties.
(3)Refers to the net carrying value of the land and buildings of the property presented as “Operating Property” in our Consolidated Balance Sheet as of December 31, 2025 (net of any impairments recorded).
(4)This schedule does not include (i) our leasehold assets on cinemas under leased-facility model, (ii) those portions of the owned assets that are not income-producing or purely used for administrative purposes, and (iii) our assets on our legacy business principally in Pennsylvania.
ENTERTAINMENT PROPERTIES
As of December 31, 2025, we leased approximately 2,085,000 square feet of completed cinema space in the United States, Australia, and New Zealand as follows:
| AggregateSquare Footage | Approximate Rangeof RemainingLease Terms (including renewals) | |
|---|---|---|
| United States | 780,000 | 2026 – 2052 |
| Australia | 1,022,000 | 2026 – 2066 |
| New Zealand | 283,000 | 2026 – 2051 |
In certain cases, we have long-term leases that we view more akin to real estate investments than cinema leases. As of 2025, we had approximately 90,000 square feet of space subject to such long-term leases, which are reported as part of our Cinema Exhibition segment, detailed as follows:
| Property | Square Feet of Improvements (rental/entertainment)(1) | PercentageLeased(2) | Net Book Value(3) (US Dollars in thousands) |
|---|---|---|---|
| In United States | |||
| Manville | 0 / 46,000 | n/a | 7,312 |
| In Australia | |||
| Waurn Ponds | 6,000 / 38,000 | 100% | 8,892 |
| TOTAL | $16,204 | ||
(1)Rental square footage refers to the amount of area available to be rented to third parties. A number of our real estate holdings include entertainment components rented to one or more of our subsidiaries at fair market rent. The rental area to such subsidiaries is noted under the entertainment square footage.
(2)Represents the percentage of rental square footage currently leased to third parties.
(3)Refers to the net carrying value of the leasehold property presented as “Operating Property” in our Consolidated Balance Sheet as of December 31, 2025 (net of any impairments recorded).
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EXECUTIVE AND ADMINISTRATIVE OFFICES
In the United States, we occupy approximately 3,500 square feet at our Village East leasehold property in New York for administrative purposes and our principal executive offices.
In Australia, we own an approximately 9,000 square foot office building in Melbourne, Australia, approximately 6,000 square feet of which serve as the administrative office for our Australian and New Zealand operations (the remainder being leased to an unrelated third party).
OTHER PROPERTY INTERESTS AND INVESTMENTS
We own the fee interests in various parcels related to our historic railroad operations, currently comprised of 201-acres principally in Pennsylvania. These are primarily vacant land. With the exception of certain properties located in Philadelphia (including the raised railroad bed near Center City, known as the Reading Viaduct), the properties are principally located in rural areas of Pennsylvania. These properties are unencumbered by any debt.
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.