The property sold on Thursday for $1.4million – $350,000 more than its last sale price in 2011.

It was sold by Travis Machan at MMJ Wollongong, who said the new owners planned to continue running the theatre as is and would not change its name.

‘‘His intentions are to continue with the running of the theatre in its current state, which is obviously a very important thing and I’m sure the community will welcome that,’’ Mr Machan said.

‘‘The owner and his family have a vested interest in theatre themselves and is the perfect purchaser for the property.’’

He said the owners were already in negotiations with promoters to secure big-name performers to play at the theatre over the next 12 months, which has this year hosted sold-out concerts from musicians such as Bernard Fanning and Paul Kelly.

Mr Machan said he had conducted 40 inspections of the northern suburbs icon with potential buyers.

‘‘We received national interest from other theatre owners throughout Australia who took the time to fly in to Wollongong and everybody who inspected the property was overwhelmed with its presentation.’’

Anita’s Theatre was last on the market in June 2011, when it was sold to a consortium of local business owners.

They bought the property then for $1.05million – less than half of what former owner and developer John Comelli had originally sought.

The theatre was named in memory of Mr Comelli’s wife.