Echuca’s Paramount Cinemas and Arts Complex hits market
Echuca’s Paramount Cinemas and Performing Arts Complex has been offered for sale for the first time since it was built in 2001.
Located at 192 High Street, in the northern Victorian town’s CBD, the business, the freehold or both are for sale, presenting opportunities for owner-operators or investors.
Selling agent Kevin Connolly of CRE Brokers says the campaign has already attracted enquiries from across the country.
“We’ve had good enquiries from all over Australia, not just locally,” he says. “It’s very rare for a purpose-built cinema to be offered for sale, and it’s the only cinema in the town.”
Strategic regional entertainment footprint
The complex was established through a public-private partnership between Campaspe Shire Council and a group of local businesspeople. The council later sold its interest to the private investors, who have owned and operated the business for more than a decade and are now retiring.
Situated on a prominent site, the two-storey concrete-and-steel building includes four digital cinemas with a total capacity of 748 seats, a fully equipped performing arts theatre with an orchestra pit, backstage facilities, food and beverage outlets and associated amenities.
Set across two Commercial 1-zoned titles of 2239 square metres, the property benefits from shared access to a large adjoining council-owned car park, enhancing accessibility for patrons and events.
“It’s truly a magnificent property – the architecture from the front is more art deco style, but inside you have all your modern amenities,” Connolly says.
Regional diversification drives growth
The cinema has evolved beyond traditional movie screenings to become a regional entertainment hub, hosting live performances and community events alongside its cinema operations. It’s hosted nationally touring musicians, comedians and theatre productions, with artists including The Black Sorrows, Ross Wilson and The Rubens.
While it is still early in the campaign to determine what type of buyer will emerge, as the property was only listed two weeks ago, Connolly said it would either be a buyer seeking to acquire both the operating business and the underlying freehold, or just one component of the offering.
Expressions of interest close on August 14.
