Interested parties are being called to submit a proposal on the potential purchase of the property at 231 Stuart St — formerly the Fortune Theatre.
The Dunedin City Council (DCC) agreed to list the property on the open market in a request-for-proposal process.
In a statement, Property Services group manager Anna Nilsen said it was "a unique opportunity for an interested buyer to transform the property and give it a new lease of life".
The DCC has owned the property at 231 Stuart St since 2000, and has continued to maintain and repair it over the years. It has been unused since the Fortune Theatre closed in 2018.
Ms Nilsen said the council was looking for an individual, organisation or developer with the vision to breathe new life into the heritage property.
"Whether that’s commercial, residential, hospitality, community or something entirely different, we’re interested in proposals that will benefit the city," Ms Nilsen said.
The building is classed as a category-1 historic place and identified in the heritage schedule of the Dunedin City 2GP.
Ms Nilsen said applicants would also have to demonstrate understanding of the building’s condition and the level of work required, how work would be funded, and provide details on how their proposal would benefit the city.
A full information pack can be downloaded from the DCC website.
Submissions close on August 17. — Allied Media