Home to the iconic Brisbane Arts Theatre since 1961, 210 Petrie Terrace has hit the market.
The property was purchased by the theatre for just £6000 in 1956 and redeveloped in the purpose-built Arts Theatre.
The 723sqm site comprises two adjoining buildings. The first building is a brick and block theatre with a box office, bar and refreshments area, auditorium, bathroom, and dressing room facilities. The second building is a period timber dwelling converted for costume storage with a low bay workshop underneath.
The theatre is being brought to market by Ray White Commercial Queensland agents Michael McCullagh and David Atkinson.
“The property at 210 Petrie Terrace encompasses a commercial opportunity positioned only 1km from the Brisbane CBD,” Mr McCullagh said.
“Petrie Terrace is one of Brisbane’s most iconic suburbs and includes a mix of residential, office and retail properties centred around Suncorp Stadium and Caxton Street, Brisbane’s premier sporting and entertainment precincts.
“Nestled amongst an array of early 1900’s buildings, 210 Petrie Terrace is positioned on a high profile site overlooking the Roma Street Parklands, Brisbane Grammar Schools and Brisbane CBD.”
With 31m of frontage along Petrie Terrace, Mr Atkinson said the property offered high exposure to over 17,900 daily vehicles in addition to strong foot traffic.
“210 Petrie Terrace has immediate accessibility to all major forms of transport including bus routes located along Petrie Terrace and Caxton Street, nearby access to the under construction Cross River Rail with Roma Street station situated approximately 800m walk from the property” he said.
“The site has a rich history in Brisbane’s cultural scene and its future use is poised to benefit from its close proximity to some of the city shaping infrastructure projects on the horizon.
“To complement 210 Petrie Terrace’s access to Suncorp Stadium, it will be an 800m walk to Brisbane Live Arena, and is nestled between the Victoria Park Masterplan redevelopment and the recently acquired site for the International Broadcast Centre for the Brisbane 2032 Olympics.”
The property is being offered for sale via expression of interest closing August 4, and would suit a range of buyers including investors, developers, owner occupiers, and local property stakeholders.