STAGE SET FOR OLD THEATRE SALE
A BEACHFRONT
Gold Coast landmark and treasured piece of the Glitter Strip’s past is being put up for sale and could fetch a blockbuster price.
The Arcade, known locally as the Old Burleigh Theatre Arcade, is being taken to market for the first time in more than 45 years, with price expectations of up to $15 million.
It is one of the few buildings from a bygone era on the Gold Coast to survive the waves of development that have shaped Queensland’s second biggest city. Opening its doors as the Deluxe Theatre in 1930, the red-bricked building became the centre of what was then a burgeoning community.
It operated as a movie theatre for many years before becoming derelict and being converted to commercial/ retail space in the early 1970s.
But despite its historical significance, the iconic building is not heritage-listed.
Overlooking the beach with views north to Surfers Paradise, its sale is expected to draw keen interest from both developers and investors. It is being taken to market via an expressions of interest campaign to be conducted jointly by Steven King from Colliers International and Adam Young from Black & Young.
“There has been no commercial property of this scale and value come to market in Burleigh in 20 years,” Mr King said.
The multi-tenanted retail, restaurant and commercial office asset is to be offered for sale in-one-line with an adjoining single-storey retail building at
1823 Gold Coast Highway.