Movie stars: Renaissance of the classic cinema
From the days of the silver screen, to today’s action-packed blockbusters, local cinemas have been a staple in Australia’s entertainment precincts. Most were built in the 1930s and boast Art Deco architecture reminiscent of Hollywood’s golden age.
Though some have since been closed, knocked down or re-developed, there are many of these historic gems across the country still operating as cinemas – re-invented for the next generation of movie-goers.
Perth’s iconic Windsor Cinema is one of them. First opened in 1937, it has hit the market for the first time in its history, generating strong buyer interest.
Located in Perth’s western suburbs, the complex at 98-100 Stirling Highway, Nedlands, is a 2532sqm site featuring a 1479sqm building comprising two larger theatres and a mini theatre.
The Windsor Cinema group has a 10-year option of renewal of the building’s lease. Picture: realcommercial.com.au/buy
Sales agent Stephen Harrison from Ray White Commercial WA, said the prized asset’s Nedlands location and demographic made it ideal for a boutique Arthouse cinema operation.
Currently leased to Luna Palace Cinemas, who also run Luna Leederville and Luna on SX in Fremantle, The Windsor Cinema is surrounded by major developments including the Chellingworth Towers proposed development, which has approval for three mixed-use residential towers, as well as the redevelopment of the iconic Captain Stirling hotel site.
Joint sales agent Michael Milne said the undeniable position, land content, large span buildings and income stream would have broad appeal to investors and developers.
“The buildings are not heritage listed although attractive elements are certainly worth retaining as part of any future redevelopment,” he said.
The building has National Trust WA classification and in 2020, the Heritage Council of WA stated the building did not have sufficient heritage significance to be included in the State Register.
The building’s location and demographic made it ideal for a boutique Arthouse cinema operation. Picture: realcommercial.com.au/buy
However, a statement of significance acknowledged it had “significant aesthetic, historic representative, rarity and social cultural heritage value.”
It notes the building was “a fine representative of Inter-War Functionalist architectural design,” and over the years it has undergone changes including the removal of its picture gardens and the original candy bar, and the installation of a new ticket box, candy bar and a new foyer.
While there has been much publicity about concerns the building could be demolished by its future owners, Mr Milne said while many buyers were interested in the land content, the future of the building was “probably something for more than a decade down the track.”
“The Windsor Cinema group has a 10-year option of renewal that starts from next year, and they’ve just lodged a fresh caveat on trying to protect that,” he said.
“And initial discussions with them is that they’d like to remain.”
The generational asset is being sold via an Expressions of Interest campaign, closing October 23.
The changing face of Australian cinema
There was no question that Australia’s favourite pastime was going to the movies, according to Independent Cinemas Association chief executive Brett Rosengarten.
“It’s still the biggest entertainment on a population basis,” he said.
“Nationally, we take multiple times more admissions than AFL and NRL combined.”
The Astor Theatre in St Kilda, Melbourne. Picture: Getty
Many old cinema buildings across Australia in recent times have had money spent on retaining and restoring them, he said.
“If you look at the Sun Theatre in Yarraville over here in Melbourne, if you look at the Astor Theatre here in Melbourne village, we have the Rivoli (Village Cinemas), which started out as a twin, has been beautifully upgraded with the Art Deco features of the time, but I wouldn’t say it’s a trend by any stretch of the imagination,” he said.
However, Mr Rosengarten said many cinema operators who have revived old cinemas were now seeing strong returns.
“The business has been tough over the last two to three years because of the pandemic and the writers’ and actors’ strikes in Hollywood, but we’re getting back to the volume of films that we need now to keep the business afloat, so to speak,” he said.
The cinema experience
While home streaming services for movies were easily accessible, it was not the same communal environment experience of attending a cinema, Mr Rosengarten said.
“Everyone at home has got a kitchen, but people still go out to restaurants,” he said.
“I think the innovation, when you think about the premium offerings, whether it’s a small premium cinema with recliners or armchairs, whether it’s recliners or armchairs that have been put into larger auditoriums, sometimes a full cinema.
The Richmond Regent, one of Sydney’s oldest cinemas, sold in 2021. It is now being renovated at will re-open in 2025. Picture: realcommercial.com.au
“We’ve got one of our members who put them into the front three rows of his multiplexes over on the eastern seaboard and all of a sudden, front rows of cinemas that never sold out are now selling out at a premium price, and they sell out before the normal seats of the cinemas.”
Food and beverage offerings have also been a game changer, with the traditional dinner and a movie date being done all in the one establishment, he said.
“What cinemas are now seeing is, instead of people going out for dinner and then going to the movies, or going to the movies then out for a coffee and a piece of cake afterwards, they’re getting the benefits of that customer for a few hours, because they’ll sit in their bar and order food in their luxurious offerings in the cinema,” he said.
Other Australian cinemas for sale
Merredin Cinema and Cafe
In WA’s Central Wheatbelt, the Merredin Cinema and Café, located within the main shopping precinct, is on the market for $145,000.
The only cinema in the area includes a 40 seat theatre, and a café offering takeaway and home delivered meals.
the Merredin Cinema and Café is on the market for $145,000. Picture: realcommercial.com/buy
Lilac Cinemas, Goulburn, NSW
A new owner is being sought to continue the legacy of The Lilac City Cinemas, or to use the opportunity to create a new venture.
The building first operated as a live theatre in the mid-1950s, and was owned by Goulburn Mulwaree Council.
In the 1990s, a local man wanted to operate a cinema in the main auditorium of the building, and did so via a portable screen to be removed for live shows. After realising this was not cost effective, a separate auditorium was built for use as a cinema.
In later years, years of extensive renovations saw the establishment of a four screen movie theatre.
The cinema has an asking price of $4,950,000.
The Lilac City Cinemas in NSW is for sale. Picture: realcommercial.com.au/buy
