The Potts Point creative studio that produced some of Australia’s most awarded movies and paved the way for Mel Gibson and Nicole Kidman to be global superstars is for sale.

For 35 years (1982 - 2017) the property was home to the renowned production house Kennedy Miller Mitchell. Over 25 films and television miniseries have been produced in the studio, including iconic Hollywood blockbusters and Academy Award Winners ‘Mad Max: Fury Road’, ‘Babe’ and ‘Happy Feet’.

Following the DA approval in November and numerous unsolicited approaches to purchase the site, the current owners, Central Element have decided to the sell the property which is being offered for sale through JLL’s James Aroney, Mitch Noonan, Gus Moors and Kate MacDonald in conjunction with IB Property’s Shane Blackett and Steffan Ippolito.

JLL Senior Director, Capital Markets - NSW James Aroney said the historic 84-year-old Art Deco Minerva Theatre at 28-30 Orwell Street, Potts Point is being offered with planning permission to be restored and developed into a boutique five-star hotel.

“As part of The Minerva’s restoration approval, additional built form will be added, and the extraordinary art deco elements, including the primary auditorium, can be merged into a lavish 63-room boutique hotel with vibrant hospitality and entertainment areas, a use perfectly suited to the Potts Point area and paying homage to the assets history” he said.

JLL Director, Capital Markets – NSW Mitch Noonan described the site as a remarkable opportunity to acquire an iconic landmark within Sydney’s coveted and tightly held Potts Point market.

“The Minerva now boasts a valuable DA approval that unlocks the 1267 sqm site’s permissible Gross Floor Area as well as granting an additional level above the allowable building height limit, providing a very valuable envelope”.

“This is an exciting opportunity to re-imagine this magnificent building and establish it as Sydney’s finest combined hotel and entertainment venue. There will be nothing else like this in the Sydney market, and its position in the city’s mini-Manhattan location of Potts Point makes it truly unique,” said JLL’s Gus Moors.

“Additionally, the MU1 – Mixed Use zoning presents a unique opportunity to create other permitted uses such as office and residential (STCA),” Shane Blackett said.

He said the location is in the heart of one of Sydney’s most vibrant entertainment precincts and was suited to a range of uses.

“Potts Point is renowned for its abundance of amenities, ranging from upscale restaurants, trendy bars, and chic cafes, as well as easy accessibility to harbourside precincts of Woolloomooloo and Elizabeth Bay and provides easy access to Greater Sydney through the public transport networks,” Blackett said.

The Minerva is for sale via an International Expressions of Interest closing at 3:00 pm (AEDT) 19 February 2024.