THE site of Newcastle's Tower Cinemas is set to become home to a recreational facility that aims to complement the expansion of the east end.
A recreation company with sites in city locations across Australia is currently in the planning stages to operate in theatres two and three on the upper level of the property at 183 - 185 King Street, Newcastle, according to Commercial Collective director Adam Leacy.
He is now marketing the lease of the property's ground floor level which occupies 955 square metres, including the foyer, candy bar and cinema.
The previously licensed venue includes existing amenities and storage.
Mr Leacy said the recreational facility planned for the upper level would attract plenty of foot traffic and high exposure to the ground floor.
"The idea is that we are looking to reposition the asset and create a facility that compliments the expansion of the east end," Mr Leacy said.
"We have a recreational business that is currently in the planning stage and the idea is the repurpose the facility to create a community attraction that will bring people into the city."
The ground floor area is being offered at $275,000 gross per annum.
After opening in 1976, Tower Cinemas closed its doors permanently in December 2018.
Former owners Event attempted to lease the building in 2019 however, the property was sold to a local investor in December 2021.
Mr Leacy said the lease offered the chance to be a part of the evolution of Newcastle's east end and suggested the property would ideal for various uses such as a beer hall or arcade game centre.
"Any of those types of businesses that would complement bringing people into the city," he said.
Mr Leacy ruled out rumours of the building being developed as apartments due to nearby infrastructure that would make it impossible to increase the height of the site.
"The thing with these buildings is they are old icons but they have got to be commercialised otherwise they sit there and turn to wrack and ruin," he said.
