The Metro – A part of Australian film and television history hits the market
The iconic Potts Point production house, where Kennedy Miller Mitchell created Australian movie classics like Babe, Happy Feet and Mad Max, owned by director/producer/writer George Miller, is being offered for the first time in 35 years.
A rare offering, The Metro is a unique art deco building out of which 18 Academy Award nominations have been generated, and eight have been won.
Located at 30 Orwell Street, Potts Point, The Metro is being exclusively brought to market by JLL's James Aroney and Gordon McFadyen, opening up this tightly held landmark property to new and exciting opportunities.
Since the late 1930's, this iconic theatre played a central role in shaping Sydney's cultural, performance and creative endeavours. Originally known as The Minerva Theatre, The Metro Potts Point has a rich and distinguished history. Stars including Ginger Rogers and Peter Finch have performed on its stage, and from the 1950's, it operated as a cinema with major names including Elizabeth Taylor, Richard Burton and Julie Andrews attending premieres. In the 1970's, Harry M. Miller staged several live productions there, notably 'Hair' with the 16-year-old Marcia Hines.
Over the last three decades, the landmark property has been home to renowned production house Kennedy Miller Mitchell. Over 25 films and television mini-series have been produced in The Metro - including iconic Hollywood blockbusters Mad Max, Babe and Happy Feet.
JLL's National Director, Sales and Investments – NSW, James Aroney said, "This is the first time The Metro has been on the market for over 35 years, and what's exciting about it is the potential for adaptation and re-use.
"The property has scope for diverse and multiple income streams, and it's really up to the owner as to what they could do with the space."
JLL's Associate Director, Sales and Investments – NSW, Gordon Mcfadyen said, "We believe 30 Orwell Street will generate significant interest from a diverse group of buyers including owner occupiers, local high net worth investors for boutique hotel, commercial and office use, entertainment industry operators, retailers, and specialised developers with heritage expertise."
30 Orwell Street has a net lettable area of just over 2,300 sqm, in the heart of Potts Point in the Sydney City Fringe. Its central location allows easy access to the CBD (2 kilometers away) and to Sydney's north, west, and southern suburbs and airport, via nearby entry points into the Sydney Harbour Tunnel and Bridge, Cross City Tunnel, and the Eastern Distributor. Alternatively, bus routes run nearby and Kings Cross Station is a short 5 minute walk away.
Office stock withdrawals in the Sydney CBD have pushed some tenants into the Fringe of the CBD. This coupled with strong growth in small businesses on the periphery of the CBD has pushed the Sydney Fringe vacancy rate down to 4.1% - the second lowest rate of the 19 office markets that JLL tracks in Australia.
30 Orwell Street, Potts point will be offered to market via an Expressions of Interest campaign, closing 8 November, 2017.