logo redirect pin user minus plus fax mobile-phone office-phone data envelope globe outlook retail close line-arrow-down solid-triangle-down facebook globe2 google hamburger line-arrow-left solid-triangle-left linkedin wechat play-btn line-arrow-right arrow-right solid-triangle-right search twitter line-arrow-up solid-triangle-up calendar globe-americas globe-apac globe-emea external-link music picture paper pictures play gallery download rss-feed vcard account-loading collection external-link2 internal-link share-link icon-close2
Australia
  • Global
  • United States
  • Albania
  • Argentina
  • Australia
  • Austria
  • Bahrain
  • Baltics
  • Belgium
  • Bosnia & Herzegovina
  • Brazil
  • Bulgaria
  • Cambodia
  • Canada
  • Chile
  • Colombia
  • Croatia
  • Czech Republic
  • Denmark
  • Egypt
  • Finland
  • France
  • Germany
  • Greece
  • Hong Kong
  • Hungary
  • India
  • Indonesia
  • Ireland
  • Israel
  • Italy
  • Japan
  • Jordan
  • Kazakhstan
  • Kenya
  • Korea
  • Kuwait
  • Latin America
  • Luxembourg
  • Mainland China
  • Malaysia
  • Mexico
  • Montenegro
  • Morocco
  • Netherlands
  • New Zealand
  • North Macedonia
  • Norway
  • Oman
  • Pakistan
  • Panama
  • Philippines
  • Poland
  • Portugal
  • Romania
  • Saudi Arabia
  • Serbia
  • Singapore
  • Slovakia
  • Slovenia
  • South Eastern Europe
  • Spain
  • Sweden
  • Switzerland
  • Taiwan
  • Thailand
  • Turkey
  • Ukraine
  • United Arab Emirates
  • United Kingdom
  • Venezuela
  • Vietnam
Log In
  • Global Intranet
  • myCBRE
  • Services
    • Business Lines
      • Advisory & Transaction Services
      • Capital Markets
      • Global Workplace Solutions
      • Investment Management (CBRE Investment Management)
      • Property Management
      • Valuation & Advisory Services
    • Industries & Specialties
      • Agribusiness
      • Build-to-Rent
      • Building, Depreciation & Cost Consultancy
      • Government Real Estate Advisory & Transactions
      • Hotels
      • Industrial & Logistics
      • Office
      • Residential
      • Retail
      • Retirement & Healthcare
      • Sustainability
      • Flexible Workspace
    • Services for Investors
      • Debt and Structured Finance
      • Host
      • Institutional Investments
      • International Investments
      • Investment Accounting & Reporting Solutions
      • Structured Transactions & Advisory
      • Leasing & Advisory
      • Metropolitan Investments
      • Property Management
      • Property Sales
      • Recovery & Restructuring
      • Valuation & Advisory
    • Services for Occupiers
      • Facilities Management
      • Leasing & Advisory
      • Occupier Consulting
      • Portfolio Services
      • Project Management
      • Sale and Leaseback
      • Structured Transactions & Advisory
      • Transaction Management
      • Valuation & Advisory
      • Workplace
  • Properties
    • Agribusiness
      Hotels
      Industrial & Logistics
      Institutional Investments
      Metropolitan Investments
      Office
      Residential
      Retail
  • Research & Insight
    • Australia Research
      Asia Pacific Research
      Global Research
      Expert Opinions
      Talking Property Podcast
  • People & Offices
    • Pacific Executive Committee
  • About CBRE
    • [email protected] - LGBTQI+ Inclusion
      Careers
      Case Studies
      Client Tools
      Corporate Information
      Environmental, Social and Governance
      Investor Relations
      Media Centre
      Reconciliation
      The Place Makers

Next

Return to Office Momentum Gathers Pace in Australia and New Zealand
  • Home
  • About CBRE
  • Media Centre
  • Sale of Melbourne longstanding adult cinema to unlock premium CBD laneway parcel

Sale of Melbourne longstanding adult cinema to unlock premium CBD laneway parcel

Melbourne | 4 October 2016
  • Email
  • Share
  • Tweet
  • Share

The former home of an adult cinema in Melbourne’s Chinatown precinct is being offered to the market for the first time in more than two decades. 

The 1-3 Cloverlid Place property has, up until recently, accommodated the Dendy Cinema – a well-known film hub first established in the 1970s on Collins Street. 

CBRE has been appointed to sell the property via an onsite auction on behalf of the private vendor – the creator of Australia’s longest-running adult consumer exhibition, SEXPO. 

The laneway property, which is being offered for sale with vacant possession, comprises 300sqm across three levels, with three premium street frontages that offer great natural light to the building. 

CBRE’s Paul Tzamalis said the sale would unlock a premium parcel of real estate in one of the CBD’s most sought after and tightly held pockets. 

“Having been owned by the same family for just over 20 years, this property offers a unique opportunity to secure a freehold presence in Melbourne’s thriving Chinatown precinct,” Mr Tzamalis said. 

“As the second oldest Chinatown precinct in the world, this pocket of Melbourne has witnessed massive change over the past 20 years, along with the broader CBD. Being held by the same owner during this period, this property is in a sweet spot of the market – offering huge value-add potential to the right buyer.” 

The last freehold property to sell in Chinatown under $5 million was 105 Little Bourke Street, which was sold by CBRE for $4.348 million in 2014. 

“The area’s strong appeal and limited supply means many owners are reluctant to let go of property,” Mr Tzamalis said. 

“We expect this opportunity will attract significant buyer interest from a vast group of investors and occupiers, as well as established services and hospitality operators.” 

Dendy Cinema first opened its doors on Manchester Lane around 1975, before relocating to Coverlid Place in 1996 where it operated until its closure in 2016. 
 
The onsite auction will take place Mid October 2016



For Australian/international news or global stories, follow us on Twitter.

About CBRE Group, Inc.

CBRE Group, Inc. (NYSE:CBG), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services and investment firm (based on 2015 revenue). The Company has more than 70,000 employees (excluding affiliates), and serves real estate investors and occupiers through more than 400 offices (excluding affiliates) worldwide. CBRE offers a broad range of integrated services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. Please visit our website at www.cbre.com.

Contact Information

$name
Natasha Pierson
Associate Director, Communications
Australia
+61 405 260 978
  • Corporate Information
  • Corporate Responsibility
  • Media Centre
  • About CBRE
  • Careers
  • Case Studies
  • People & Offices
  • Executive Committee
  • Investor Relations
  • Contact Us
  • Australia Privacy Policy
  • Global Web Privacy and Cookie Notice
  • Whistleblower Policy
  • Sitemap
  • Terms of Use
  • LinkedIn
  • Twitter
  • Facebook
  • Instagram
  • Youtube