The NSW Government has reached a commercial agreement with the owners of the Theatre Royal paving the way for a tender process to secure a new theatre operator. In March 2019 the Government announced plans to reopen the much loved theatre to attract more major shows to Sydney and provide a lift to the night-time economy.
Minister for the Arts Don Harwin says the agreement with Dexus and Dexus Wholesale Property Fund includes an extended lease of the theatre for 55 years rather than the 45 years initially agreed. “The Government has worked hard to secure a deal that provides operational certainty for interested companies – a 55 year lease does that,” said Mr Harwin.
“A request for tender (RFT) for a commercial operator for the Theatre Royal will shortly commence. This is great news for the Sydney theatre ecosystem and the night-time economy – we all know our sector needs more theatres – safeguarding the future of the much loved 1,100 seat theatre is a great step forward.”
“The re-opening of the Theatre Royal will be a great outcome for Sydney and its night-time economy, the arts community and the theatre-going public,” said Darren Steinberg, Dexus CEO. :We value the contribution from the NSW State Government to assist in reopening the theatre.”
It is anticipated that the theatre will be operational in 2021. The competitive request for tender will open in early December 2019, when more details will be available on the NSW Government eTendering website.
Image: Theatre Royal Artist Impression (supplied)