The City of Melbourne’s share of the iconic Regent Theatre will be sold, with the proceeds to help deliver a vibrant new era for Melbourne’s arts and cultural scene, including millions of dollars for live music, neighbourhood theatres, local markets, and the creation of a new City Solstice Winter Festival, if Nick Reece is re-elected as Lord Mayor.
The heritage-listed Regent Theatre opened its doors in 1929 and quickly became known as "The Palace for the People" – over the decades, the theatre has played an integral role in Melbourne’s cultural life, hosting everything from silent films to blockbuster musicals like The Lion King, Wicked and Moulin Rouge.
With the theatre now a commercial success, the time has come for the City of Melbourne to divest its 51% interest and reinvest the proceeds back into the community - including establishing a Melbourne Arts Future Fund, which would earn money from the sale proceeds and deliver those dividends to our city’s artists and creatives in perpetuity.
The Regent is one of Australia's most beloved theatres - and it'll stay that way. We’ll make it a condition of sale that anyone who wants to buy the City's share has to agree to continue operating it as a theatre - forever.
Key initiatives funded by the sale would include:
- Creative Spaces: New artist residencies and creative hubs for non-profit art groups (like Collingwood Yards) in the City of Melbourne through long-term leases and permanent opportunities. This will also include discussions around the future of the Nicholas Building Association and see if there is scope for them to expand.
- Reinvigorating Melbourne’s Live Music Scene: $1 million will be used over three years for small grants to support Melbourne’s live music scene – they will directly benefit local artists and the small businesses that host live music events, helping to sustain Melbourne’s reputation as a hub for live music.
- Creation of the City Solstice Winter Festival: We will invest in creating a commercially viable long-term winter festival, City Solstice, commencing in Winter 2026. This festival will build on the success of past events like Firelight Festival and White Night, transforming Melbourne into a must-visit winter destination and supporting local businesses during the colder months.
- Support for Neighbourhood Theatres and not-for-profit art groups: $2 million will be dedicated over three years for grants that support the operational needs of neighbourhood theatres and not-for-profit art groups across Melbourne. This funding aims to ensure that grassroots arts organizations can continue to thrive and enrich the city’s cultural fabric.
- Investment in Local Festivals and Community Markets: $2 million will be allocated over three years to support local festivals and community markets, like the new Lygon Street Market in Carlton and the Docklands Sunday market.
- Public School Access to Theatre: As a condition of the theatre sale, 1000 tickets will be made available every year to shows at the Regent Theatre for City of Melbourne public school students, so they can more easily access live performances.
Quotes attributable to Lord Mayor Nick Reece:
“The Regent Theatre is an incredible cultural asset for Melbourne, but it now stands on its own two feet and no longer needs to be owned by the City of Melbourne - by selling the City’s share, we can ensure that its legacy lives on by investing in the future of Melbourne’s vibrant arts and culture industry.”
“From neighbourhood theatres to live music and local markets, the boost in funding can help our artists, singers, and actors, as well as the small businesses who rely on Melbourne’s live music and theatre scene, continue to thrive.”
“The City Solstice will be a major event game-changer for Melbourne, turning our city into a winter wonderland and drawing visitors from near and far.”
Quotes attributable to Councillor and Deputy Lord Mayor Candidate Roshena Campbell:
“Melbourne is head and shoulders above every other city in Australia when it comes to the arts, culture and live events.
“This plan will ensure we stay that way, and our traders can continue to reap the economic benefits that come with it.”
