Shop, office in historic ex-Carlton Moviehouse for lease

A ground floor retail space and upstairs office suite are for rent at the historic Carlton Moviehouse.

It was five years ago the 1909 double storey property was gutted and refurbished as a commercial investment with two ground level shops and separately accessed upper workrooms.

The 520 sqm structure occupies all of a 292 sqm plot at 235-237 Faraday Street and 16 Faraday Lane, in Melbourne’s inner north Carlton.

Initially a meeting hall and used by Carlton Trades Club, it was refit as a billiards centre before in 1923 becoming Carlton Picture Palace – which seated 472 patrons in stalls and 182 on a balcony.

According to the Heritage Council of Victoria, the cinema was one of the first in the post-war era to adopt an art-house program.

In the 1960s the property was converted into a c250-seat theatre nicknamed The Bughouse.

Forty one years ago it was officially branded Carlton Moviehouse.

Carlton Moviehouse since the curtains closed

The cinema curtains closed for the last time in 1999 – it could then accommodate 435 customers.

A year later the Royal Women’s Hospital sold it for $600,000 and it was rented to STA Travel which occupied until about mid-2012.

It exchanged again six years ago – for $3.6m – that owner undertaking a major renovation which saw it reconfigured as three upstairs offices and two ground floor shops with a 116-person seating capacity and 11pm food and liquor licence.

The asset last sold in 2016 – for $6.1m, a deal which reflected a 4.25pc yield.

Mulcahy Butera’s Robert Butera is now marketing the two commercial spaces for rent.

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Marc Pallisco

A freelance property analyst and journalist, Marc is a co-founder of realestatesource.com.au.

Marc Pallisco