Semaphore’s historic Odeon Star cinemas listed for sale and lease
The owners of a historic beachside movie theatre have decided it’s time to roll credits on their popular business.
Terry and Jacky Proud have listed the Odeon Star Semaphore Cinemas at 65 Semaphore Road for sale and lease.
For the past 17 years they have run the 100-year-old cinema, which Mr Proud said is listed with a $2.5 million price tag, and now want to retire.
“It’s been a great community cinema and it will be disappointing to the local community, but we’ve got to look at the facts too,” Mr Proud said.
“The whole industry is changing and we’re getting older, it’s just time to move on.
“Even my son – he’s been doing it as long as we have – he’d really like to try something else.
“It’s time for us all to let go.”
The distinctive building has a colourful history, first opening as the Wondergraph Picture Palace in 1920 at the cost of three pence a show.
It closed then partially reopened in the decades following, but it wasn’t until 1997 that it became the cinema it is today after a refurbishment.
The building has an art deco facade, which is heritage listed, and a retro New York-style interior.
On a 975sqm block, it has 1000sqm of floor space across two levels, as well as an established barber shop that makes up part of the complex with a lease in place until 2025.
It is the second time the property has hit the market in the past two years, with property records showing it was listed for sale in October 2018.
“If they want to continue the business they can continue it, that’s all part and parcel,” he said.
“You never know, somebody might take it up and keep running with it.
“But if we just lease it, we can drive a retirement income from it.
“I’d love to see it stay as a cinema.”
Selling agent Frank Azzollini, of LJ Hooker West Lakes – Henley Beach, said he had already received a dozen email inquires about the “beautiful building”.