The cornerstone to the rebirth of Kings Cross as a family friendly entertainment precinct is already in jeopardy with the Minerva Theatre being placed under conditional sale.
It comes days after urban think-tank Committee for Sydney urged policymakers in its new vision for the area to consider incentivising the creation of live performance venues and many locals saying the reopening of the mothballed art-deco theatre on Orwell Street would secure the renaissance of the former red-light district.
“A theatre ticks all the boxes of a 24-hour ecology,” Mr Martignago said, referring to the interplay between economy and community. “If you want to have a very easy fix to the Kings Cross problem it would be via the revival of the theatre.”Historically used for stage shows and cinema, the building became the studios for movie director George Miller in the 1980s before it was sold to Abacus Property Group for almost $20 million in 2019.
The owner has now entered into a conditional contract with a prospective buyer but confidentiality agreements have prevented anyone from discussing it. However, sources familiar with the deal say the parties do not intend to restore the Minerva as a working theatre.A recent study funded by Create NSW and the City of Sydney found it was economically feasible for the art-deco buildingand identified strong interest from venue operators, producers, and promoters.
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