cinema – realestatesource

TWO years after shutting its doors as a movie house, the historic Glenelg Cinema is set to be demolished and replaced as a small shopping complex.

The 1937 building at 119 Jetty Road (pictured, right) was the subject of an online petition by the Adelaide Chapter of the Art Deco and Modernism Society.

Small cinema crusaders, architecture groups and locals were hoping prominent developer owner Andrew Taplin could strike a deal with Wallis Cinemas for a joint venture, which would have seen the cinema renovated into a seven-screen complex. Its facade would have been retained.

Victoria

St Kilda’s Former George Cinema For Sale

July 17, 2012 Marc Pallisco cinema, st kilda

THE space where iconic St Kilda cinema The George thrived in the 1990s, before struggling financially in the earlier part of this century and then closing, is for sale.

Still known locally as The George Cinemas despite the site re-opening (for two weeks) as Cinema Aurora in 2010, the 1142 square metre space over two levels includes a multi-level car park, and liquor licence. It also includes a newly fitted candy bar and foyer.

Being sold with vacant possession, the space has the potential to earn about $400,000 in annual rent, according to the selling agent Chris Muller, of Wilson Port Phillip who is expecting interest from owner occupiers and investors. The former cinema is expected to fetch about $2.75 million.

Uncategorized

Challenger Sells Rivoli Theatre, Camberwell, For $20 Million

June 1, 2009 Marc Pallisco cinema, institution

FORMER RETIREMENT Village developer the Zig Inge group has paid $20.2 million for Camberwell’s Rivoli theatre, reflecting a huge drop in the building’s value since even last year, and a massive loss for Challenger.

The Zig Inge Group, which recently sold its retirement arm portfolio to Macquarie and FKP for $641 million, has purchased the Rivoli and will retain it as an investment. Land around the cinema offers great redevelopment potential.

The Rivoli, at 200 Camberwell Road, was offloaded by the Challenger Hybrid Property Fund, which put a value of $23.2 million on the asset just last year. Challenger spent about $16 million on a luxury restoration of the 5,340 square metre cinema in 1999.

South Australia

Adelaide’s Chelsea Cinema to be Sold

January 22, 2010 Marc Pallisco Burnside Council, Chelsea Cinema, cinema

ADELAIDE’s Chelsea Cinema will be sold.

Despite a public campaign to rescue the 85-cyear old cinema, Adelaide Now has reported the Burnside Council is seeking expressions of interest, which would see the 1810 square metre State Heritate listed cinema site sold.

An adjoining 725 square metre block at 39 May terrace is also available as part of the EOI campaign, set to close on February 26.

Victoria

Arthouse Cinema Coming to Hawthorn

March 13, 2011 Marc Pallisco cinema, Glenferrie Road, hawthorn, Letten Group, New Melbourne Retail Development

TRAFFIC in busy Glenferrie Road looks set to intensify if the Boroondara council approves an application to redevelop a dank, part-vacant arcade into a new shopping centre, topped by a 1050 seat arthouse theatre and a 100-seat rooftop cinema.

Independent theatre operator Eddie Tamir has applied to rebuild The Glen arcade at 673 – 681 Glenferrie Road, Hawthorn, with The Lido, a new ITN Architects designed cinema complex.

Tamir owns Belgrave’s Cameo Cinema and is a co-owner of renovated movie house The Classic, in Elsternwick.

With his father David, who owns Prahran’s Station Hotel and the Argo, in South Yarra, Eddie paid $15 million for the double-storey Hawthorn facility last August.