Brisbane's heritage-listed Princess Theatre up for sale
The Brisbane heritage-listed Princess Theatre in Woolloongabba is up for sale through Knight Frank.
Built in 1888, the Annerley Road property, which was originally built for prominent Brisbane solicitor Phillip Hardgrave, consists of a large two-storey theatre and three retail tenancies on a 1103 sqm block.
The 132-year-old property has been owned by Lifecity Church for the past 13 years, and has hosted other events, including wedding ceremonies, live music, school productions, private and corporate functions, theatre productions, trivia nights and fundraisers. The Princess Theatre has also recently been extensively refurbished, it has undergone recarpeting, repainting, floor polishing, and a new lighting and sound system.
With Lifecity Church relocating to a more suitable location, the property is being taken to the market by Adam Willmore and Christian Sandstrom of Knight Frank. The expressions of interest campaign for this property closes March 19, 2020.
The 500-person theatre was last sold in 2003 for $950,000, and $451,000 in 1992.
Mr Willmore said the Princess Theatre, which has 20 metres of street frontage to the busy street, "will generate significant buyer interest due to the scarcity factor and its stellar location, situated in the heart of Woolloongabba close to the Mater Hospital and less than two kilometres from the CBD.
"Woolloongabba is benefiting from investments in both public and private sector. The recent urban renewal and new development occurring within the suburb is redefining the suburb as a key southern 'gateway' into the city.
"The property adjoins retail amenity with plenty of parking and is occupied by two retail tenancies on the ground floor including a barber and café, along with a small office space."
The theatre was first named the South Brisbane Public Hall and was designed to provide the rapidly expanding surrounding population with a communal venue that would become the perfect location for theatre, lectures, balls, musical performances and other public gatherings.
Over the years, the site has experiences a number of different incarnations, including being used as a clothing factory, a movie house, and the main site which hosted the rehearsals and administration for the US Entertainment Unit during World War II.
Lifecity Church director and venue manager, Frances Koops said she hoped the theatre would be purchased by someone who would make it available for enjoyment of the community for many years to come.
"The theatre is such a valuable piece of history, with so many drawn in by its old world charm and beauty," she said.