Sale of Melbourne's longstanding adult cinema to unlock premium CBD laneway parcel

The former home of an adult cinema in Melbourne’s Chinatown precinct is on the market market for the first time in more than two decades.

The property, 1-3 Cloverlid Place, what was the Dendy Cinema, is up for sale through auction as a vacant possession by CBRE. It is currently owned by the creator of adult consumer exhibition Sexpo. 

The building is sized 300sqm across three levels, with three premium street frontages.

CBRE’s Paul Tzamalis said the sale would unlock a premium parcel of real estate in one of the CBD’s most sought after and tightly held pockets.

“Having been owned by the same family for just over 20 years, this property offers a unique opportunity to secure a freehold presence in Melbourne’s thriving Chinatown precinct,” he said.

The last freehold property to sell in Chinatown under $5 million was 105 Little Bourke Street, according to CBRE.

The onsite auction will take place Mid October 2016.

Above pic taken from Google Maps.