LaSalle Investment Management has proposed plans for a $200-million, 35-storey commercial tower to be built above Melbourne’s heritage-listed Comedy Theatre.
The global investment manager, an independent subsidiary of JLL, will partner with theatre owner the Marriner Group to unlock the site and build the new tower.
The site, at 240 Exhibition Street, has been an entertainment venue since the 1840’s and the Comedy Theatre has operated there since 1928.
From the submitted plans, designed by Architectus, LaSalle intends to demolish the existing carpark building at 222 Exhibition Street and an existing fly tower at the rear of the theatre to create a 5900 square meter (63,507 sq ft) development site. The planned tower will be built above a two-level basement and will have a six-level podium which will include two 150 square meter (1614.59 sq ft) rehearsal spaces on level three and five respectively which will connect to the upper gallery of the theatre building.
As part of the development, LaSalle plans to upgrade the theatre with contemporary stage facilities, an expanded stage and back of house area, along with a new fly tower that will allow the theatre to compete for and accommodate larger shows.
A new direct access to Lonsdale Street will also be created to enable performers and staff requiring accessibility facilities to access and work in the venue for the first time.
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