The owners of the Roseville cinema in Sydney’s north shore are not interested in selling. A group led by Hyecorp has been eyeing the property.
The cinema, which has been operated by the Adagio family for over 50 years, is on the Pacific Highway.
This week, the company sent a letter to the owners of the cinema asking for a meeting.
Emma Adagio, the cinema’s co-owner, said the letter was appalling and horrible.
She said her family would not sell the property. She also noted that the community supported the family.
Stephen Abolakian, the company’s managing director, said that the company regularly reaches out to other property owners in the area to find out what they can do for their properties.
He also noted that the company respects everyone’s position.
According to Mr Abolakian, Hyecorp partnered with the owners of The Roseville Club to develop a new project called Juliet Roseville.
The project will include 37 apartments and underground parking.
It was approved by the planning authorities earlier this year.
In order to find out what opportunities there are for the company and the landowners, Hyecorp usually sends out a letter to the property owners.
The company then tries to find out what kinds of opportunities they can explore together.