Heritage Venue The Palace Theatre Looks Set For Demolition

News has emerged that iconic Melbourne live music and event venue the Palace Theatre could be demolished with plans put forward to build a five-star hotel and apartment complex in its place.

According to The Border Mail, the $180 million dollar project has been submitted by company Jinshan Investments and will be a 30 storey complex and include Australia's first W Hotel, which would mean the end of the Palace Theatre's reign on Bourke Street. Construction on the project could begin in 2014 depending on the approval of the development.

The W Hotel itself would be a major coup for tourism in the city, as well as the local employment rate, according to Development manager Tim Price of Sinclair Brook.

“It will really help to revitalise the ground level of the site, with an introduction of a new laneway from Bourke Street through to Little Bourke Street,” he said.

Because the Palace Theatre is a heritage listed building though, certain steps will need to be taken in order for clearance to be provided for the buildings removal, something Melbourne City councillor Ken Ong said can be decided between the appropriate factions.

“From heritage perspective I hope it respects the planning controls and heritage overlays in the area.”

Music Victoria CEO Patrick Donovan has also commented on the matter, saying it would be a mssive blow to the city to lose the iconic venue.

"The Palace is one of Melbourne's best live music venues – a beautiful building full of character, great sightlines and production, centrally located, run by experienced operators, and one of the few medium sized venues that can host the bigger Australian acts as well as international touring bands, " he said.

"Its absence would leave a huge gap for 2,000 capacity standing room venues, which would be a huge blow after losing the former Palace in St Kilda."

Donovan also added that promoters would have to look at other options, such as downsizing to The Forum, which is already heavily booked or moving to the Palais Theatre, which has no standing area.

Petitions and social media campaigns have already begun with, according to Donovan, more than 20,000 Facebook fans and over 9,000 signatures put forward on the Save The Palace Theatre petition site.

Story updated with quotes from Patrick Donovan on Monday 8 July.