Heavyweight live entertainment organisation Century Venues will explore the option of purchasing Wollongong’s historic Regent Theatre over the coming months.
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The Century group owns and operates several premium music, theatre and comedy venues in Sydney, including the Enmore, Metro and Factory theatres.
Century also produces and tours live entertainment and festivals, including the Sydney Comedy Festival.
Century is now considering “revitalising” the Regent Theatre, having taken out an option on the site.
Century believe that with the historic Victoria Theatre Newcastle also poised for renovation by Century, the Regent could potentially create a circuit of venues across Wollongong and Newcastle, partnered and underpinned by Century’s Sydney venues.
“We are currently in an early due diligence stage and are testing the market and talking to locals about whether there is enough support for reopening the Regent as a live performance space,” Greg Khoury, executive director of Century said.
“We see the opportunity to bring to Wollongong many of the national and international acts and performers we present in Sydney.
“We see the potential for the Regent to complement the existing cultural infrastructure of Wollongong such as the IPAC.
“Equally importantly, the Illawarra is also producing a lot of talented artists, musicians and comedians and we see this is as an opportunity to showcase local, emerging artists.”
Mr Khoury said Century are not property developers but venue managers, theatre producers and event organisers.
“If we do buy the Regent, it will be because, after our due diligence, we will have been convinced that it can be made to work as a live performance space.
“Our plan is to operate the Regent as a revitalised, working heritage theatre relevant to the community.”
A Century spokesperson said they weren’t planning to undertake any knock-down/rebuild of the site.
The main building and facade are listed under state heritage significance.
“The building has significant heritage which we want to protect and maintain,” Mr Khoury said.
“We have a lot of experience revitalizing, managing and operating heritage buildings.”
Mr Khoury said they will be talking to Wollongong council in the coming weeks about whether it is commercially feasible to reopen the Regent.
“We will also be keen to talk to local businesses and restaurants,” he said.
“Our experience in Sydney is that the events we present in our venues have considerable flow-on, multiplier benefits for local restaurants, bars and hotel operators.
“We see the Regent as having the potential to significantly improve the vitality and vibrancy of Wollongong town centre.”
Gateway City Church bought the 1200-seat theatre for $3.5 million in 2005, then spent $1 million on improvements, also turning the space into an occasional live music venue.
Gateway City Church pastor Scott Hanzy recently told the Mercury they had outgrown the venue.