Interested parties have been called to submit a proposal on the potential purchase of the property at 231 Stuart St.
Dunedin City Council property services group manager Anna Nilsen said it posed a ‘‘unique opportunity’’ for an interested buyer to ‘‘breathe new life’’ into the historic property.
The building’s central location, heritage character and flexible zoning meant it could support a wide range of uses, she said.
‘‘Whether that’s commercial, residential, hospitality, community or something entirely different, we’re interested in proposals that will benefit the city.’’
The council released a raft of documents alongside Ms Nilsen’s statement, including a 2025 elemental estimate summary by building consultant Flanders Marlow.
The report found the estimated costs to revert the building to a dual level tenantable space would be $3.81 million, excluding GST and several other factors such as legal and financing costs.
It formerly operated as the Fortune Theatre, but it has remained unused since operations ceased in 2018.
The council has owned the property since 2000. Councillors decided to approach the market for proposals in April this year.
At the time, the Otago Daily Times reported the council had incurred annual operating costs of about $122,000 — including for rates, electricity, insurance, depreciation and maintenance — while the property has been vacant.
Ms Nilsen said applicants needed to demonstrate understanding of their proposal’s required level of work and funding, among other matters.
They would also need to explain their proposal’s benefit to Dunedin.
The property first opened in 1870 and operated as the Trinity Methodist Church. It was used as a professional theatre from 1978 to 2018.
It is classed as a Category 1 Historic Place and identified in the heritage schedule of the council’s second generation district plan.
Proposal submissions close on August 17. More information is available on the council’s website. — Allied Media
