By Cara Waters
Lord Mayor Nick Reece has abandoned his plan to sell the City of Melbourne’s share of the Regent Theatre, conceding it was a mistake.
In his campaign to be elected as lord mayor in September last year, Reece pledged to sell the council’s 50 per cent stake in the century-old theatre to fund a new version of the White Night festival and creative hubs in the city.
Lord Mayor Nick Reece at the Regent Theatre. He pledged during his campaign to be elected lord mayor to sell the council’s share in the theatre. Credit: Simon Schluter
However, almost 100 days into his term as lord mayor, Reece said that while he still wanted to support the arts, he would not proceed with the proposal.
“I recognise now that my policy to sell the theatre was a mistake, and I own that,” he said. “I admit I got it wrong.”
Reece said he had failed to appreciate the level of support among Melburnians for the heritage-listed venue on Collins Street and the history of activism to save it over previous decades.
“What I underestimated was the level of community love for the Regent Theatre, which is a particular fail on my part, given my deep love of Melbourne’s heritage and appreciation for our city’s history,” he said.
The theatre is estimated to be worth between $40 million and $50 million. Reece had pledged to use the proceeds from its sale to create a “City Solstice Winter Festival”, which he described as a commercially viable long-term event modelled on White Night, the popular 24-hour celebration of art featuring events such as installations and street parties.
Money from the sale of the Regent was also earmarked for new artist residencies and creative hubs for non-profit art groups, such as the Collingwood Yards, through long-term leases and permanent opportunities.
Reece also pledged $1 million from the sale over three years for small grants to support Melbourne’s live music scene, benefiting local artists and small businesses that host live music; $2 million for theatres and not-for-profit art groups across the city over three years; and $2 million to local festivals and markets.
The Regent Theatre pictured at the opening night of Moulin Rouge! The Musical.Credit: Sam Tabone
“I am still very committed to supporting the art sector,” Reece said. “I hope it will be a hallmark of my term as lord mayor.”
Without the proceeds from the sale of the Regent Theatre, the City of Melbourne is likely to have difficulty funding these pledges.
“It is still my plan, subject to council approval, to pursue the idea of a beefed-up winter arts festival for Melbourne,” he said. “Building on the success of the [Docklands] Firelight festival and drawing on successful festivals of the past, like White Night.”
Reece said the City of Melbourne’s Now or Never arts festival would also go ahead this winter.
Rising festival, which was billed as a replacement for White Night and Melbourne International Arts Festival, is funded by the state government, not the council.
“The decision not to proceed with the sale of the Regent will mean that in year one, we won’t be able to deliver the injection of funds that I had hoped for,” Reece said. “I still believe there is a strong future there for our community arts sector. I am advocating very strongly to the state government and even more strongly to the federal government to increase or reinstate funding to the arts sector and increase it.”
Reece said he would look for other ways to support new artist residencies and creative hubs, such as potentially giving arts organisations priority in new developments.
The $1 million pledges for small grants to live music, $2 million to the operational needs of theatres and arts groups, and $2 million to local festivals and community markets, such as the new Lygon Street Market and A Day in Carlton, would be “subject to budget deliberations” at the council.
Reece said he was still keen on a “beefed-up” winter arts festival like White Night, pictured in 2014. Credit: James Boddington
The sale of the Regent Theatre was not supported by the Victorian government, which owns the remaining 50 per cent of the theatre, and faced defeat in the new council. At least six of the 11 councillors told The Age they were likely to vote against the proposal, including one member of Reece’s team.
“I want to be clear: I’m not [scrapping] this policy because I don’t think I’ve got the numbers,” Reece said. “I’m not pursuing the Regent policy because I have genuinely come to the view that it is not the right policy for Melbourne.”
Reece said abandoning the sale, which could have brought in $20 million to council coffers, would not impact the City of Melbourne’s upcoming budget, which squeaked into a surplus of $101,000 last year, the first surplus in five years.
“The sale of the Regent Theatre was always a process which was going to take some time, probably a number of years,” he said. “So a decision not to proceed with that policy will not impact on the 2025 budget.”
Jason Marriner, of the Marriner Group, which operates the Regent Theatre, said the group had a longstanding lease, but it was good to know the council and state government were committed to their ownership of the theatre.
“We were always agnostic with respect to the decision, and it is business as usual,” he said. “We have enjoyed hosting the ballet, a terrific season of Sister Act and looking forward to hosting Beetlejuice.”
A Victorian government spokesperson on Thursday reiterated that it had no plans to sell its share of the theatre.
“Melbourne is home to the best theatres in Australia, one of which is the Regent Theatre – an iconic part of Melbourne’s history and will remain so for years to come,” they said.