Wellington's Mayor's welcoming news the capital's derelict Reading Cinema complex has been sold

It's been purchased by local developer Prime Property.

Wellington City Council last year tried to buy the land to encourage Reading to revive it, but the proposal became shrouded in controversy and ultimately failed.

Tory Whanau now says she's looking forward to seeing what Prime Property does with the site.

She says she's looking forward to development alongside their Golden Mile revitalisation work this year