cinema – realestatesource https://www.realestatesource.com.au Commercial and residential property news Tue, 17 Jul 2012 10:30:28 +0000 en-US hourly 1 https://wordpress.org/?v=7.1.4 https://www.realestatesource.com.au/wp-content/uploads/2024/03/rsfav-100x100.png cinema – realestatesource https://www.realestatesource.com.au 32 32 Historic Glenelg Cinema to be Demolished https://www.realestatesource.com.au/historic-glenelg-cinema-to-be-demolished/ Sat, 07 May 2011 10:45:53 +0000 http://realestatesource.com.au/wordpress/historic-glenelg-cinema-to-be-demolished.html 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.
]]> However Wallis Cinemas “knocked back” that proposal, according to AdelaideNow.

The site is likely to now be replaced with a mix of retail stores and restaurants, using a permit that was approved three months after the Odean cinema, managed by Wallis, closed its doors. Wallis shut the cinema citing poor patronage.

]]> St Kilda’s Former George Cinema For Sale https://www.realestatesource.com.au/st-kildas-former-george-cinema-for-sale/ Tue, 17 Jul 2012 10:30:28 +0000 http://realestatesource.com.au/wordpress/st-kildas-former-george-cinema-for-sale.html 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.
]]> The George, with three cinemas a previous owner had once mooted to split into six, opened in 1994 but later struggled against competition from other boutique inner-city theatres including The Classic in Elsternwick and The Jam Factory in South Yarra.

The nearby Astor Theatre, which is now owned by private school St Michaels and is earmarked for an education-based redevelopment, has been mooted as a possible suitor for the former George premises at 135 Fitzroy Street.

]]> Challenger Sells Rivoli Theatre, Camberwell, For $20 Million https://www.realestatesource.com.au/challenger-sells-rivoli-theatre-camberwell-for-20-million/ Mon, 01 Jun 2009 12:44:35 +0000 http://realestatesource.com.au/wordpress/challenger-sells-rivoli-theatre-camberwell-for-20-million.html 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.Rivoli Theatre

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.

]]> Challenger has also recently sold its 330 Collins Street office building in the Melbourne CBD for almost $100 million, and is trying to sell Chapel Street’s Jam Factory complex for about $110 million. In Sydney, the group sold its 50 Margaret Street office for $40 million.

The Zig Inge Group recently purchased the former Toorak family home of Liberal Opposition leader Ted Baillieu. That property, on a huge St Georges Road block, is expected to make way for a residential development of sorts.

]]> Adelaide’s Chelsea Cinema to be Sold https://www.realestatesource.com.au/adelaides-chelsea-cinema-to-be-sold/ Fri, 22 Jan 2010 01:57:55 +0000 http://realestatesource.com.au/wordpress/adelaides-chelsea-cinema-to-be-sold.html 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.


]]> Brock Commercial’s Garry Partington is marketing the property. No expected sale price was reported in the story.

“We understand it’s an emotive and sensitive issue in a lot of people’s minds, our role is simply to bring together all of those expressions of interest,” he said.

Chelsea Cinema opened in 1925, and was sold to the council in 1964 after a series of different owners and renovations.

When the Burnside City Council announced plans to open the EOI this month, it said all heritage features (of any new development) must be retained unless otherwise agreed by the council, and the State Heritage branch.

]]> Arthouse Cinema Coming to Hawthorn https://www.realestatesource.com.au/arthouse-cinema-coming-to-hawthorn/ Sun, 13 Mar 2011 04:00:09 +0000 http://realestatesource.com.au/wordpress/arthouse-cinema-coming-to-hawthorn.html 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.
]]> The Glen (aerial shot, right) was one of several prime located assets formerly controlled by the Letten Group of Companies recently offloaded by receivers. Another Letten properties sold at the time was the 1.9-hectare Tontine Pillows factory, in Nicholson Street, Brunswick East. Purchased by the Banco Group for about $15 million, that site is expected to be replaced with a $150 million shopping centre.

The Glen currently includes 20 retailers at ground level and vacant upstairs offices.

A proposal, being reviewed by council, would see part of the ground floor configured into a ticket box and a staircase to the upper level which will be converted into an eight-screen cinema. An outdoor cinema is also projected.

The Lido plans to trade between 9am and midnight. The site abuts a council car park.

In its Boroondara council submission, the applicant provides parking data for its outer suburban Belgrave cinema, saying the proposed Hawthorn Lido cinema will be of similar operational characteristics.

As with many other major proposals before council at the moment, the Lido application relies on strategies in the Melbourne 2030 planning document, which new Planning Minister Matthew Guy has described as dead and buried.

A council spokeswoman said it expects to make a decision about the Lido proposal in April or May.

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