Wyndham council has paid $4.4 million for the historic former Palais theatre site in Werribee.
The site in Station Place, which is currently home to a Cash Converters outlet, was originally opened in 1928 as the Picture Palais theatre and cinema.
The property was listed for sale in November last year by Fitzroy’s estate agents on behalf of longtime owners, the Carter family.
Wyndham mayor Jennie Barrera, said council chose to purchase
the site as part of its efforts to rejuvenate central Werribee.
“In recent years Wyndham City has invested heavily in the Werribee city centre,
including a $13 million redevelopment of Wyndham Park, reactivation of the Bridge
Hotel and the Hunter Werribee building with Holiday Inn, offices, shops and public
parking,” Cr Barrera said.
“Council’s strategic decision to purchase the old Palais theatre site means we’re
able to guide the type of development that we will see there in the future, in keeping
with our vision for the Werribee city centre.”
Wyndham councillor Mia Shaw said buying the property was in investment in Wyndham’s future.
“This acquisition is all about making Werribee city centre a more vibrant and
exciting place to be for our residents and visitors, and will ensure a lasting legacy for
our community,” she said.
“Council will now work closely with the current tenants as we look at the long-term
future of the site.”
Fitzroys estate agent Chris Kombi helped sell the
the two-level 1,000sqm site and said it presented Wyndham council with plenty of options.
“Currently occupied by ASX-listed Cash Converters, the asset also gives the council a secure
income stream from a high-quality tenant,” he said.
Mr Kombi and colleague Ervin Niyaz acted on behalf of the Carter family, successful poultry farmers with a long
and history in Werribee dating back to 1879.
The Palais is one of several notable buildings have been
constructed by and for the family in the area, including Villa Franca and Roland Carter House.
Chris Kombi said the sale of the Palais building was a significant moment for Wyndham real estate.
“The interest in campaign clearly reflected that Werribee is now the commercial and cultural
centre of Wyndham, having developed a retail, office and lifestyle offering that draws and
services residents, workers and students locally and from the surrounding suburbs,” Kombi
said.
“Werribee is currently undergoing a period of revitalisation and development as both it and
Wyndham experience unprecedented population growth.”
