Developer In Talks To Save Melbourne's Palace Theatre

The fate of Melbourne's beloved Palace Theatre is looking a bit brighter today, with reports emerging that a developer is in talks with the Victorian government to purchase and restore the iconic venue as a live music hub.

According to Fairfax, a company has stepped forward to possibly restore the venue, which closed in May, with Music Victoria's Patrick Donovan believing this could be the Palace's "white knight."

Donovan spoke out on the news last night (Tuesday 7 October) at the Melbourne City Council deliberations that took place over whether the Palace should receive special heritage protection. The motion is said to have passed, with a six to five vote in favour of the Palace. According to the report, a heritage significance assessment is expected to happen by November.

After its closure, developers had put forward plans to turn the building into Australia's first W Hotel, plans which have reportedly been abandoned as recently as last week.