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Coinciding with yesterday's announcement that it is to acquire the Lyric Theatre, The Star Sydney Event Centre and other additional spaces within The Star Sydney complex, Foundation Theatres has revealed that it has been granted planning approval for the creation of a 1550-seat Broadway-style theatre in the precinct.

The proposal will see the Event Centre converted into the fourth Sydney commercial theatre big enough for major Broadway productions – alongside the Lyric Theatre, the Capitol Theatre and the Theatre Royal.

Foundation’s plans also include the addition of a contemporary music venue with a standing capacity of 1000, and a flexible venue for theatre, cabaret, comedy and concerts for up to 550 to the venue.

The three new venues, when combined with the Lyric and the boutique Foundry Theatre, opening at the rear of the Lyric on 11^th February, will create a five-venue ‘West End-style’ theatre district.

A confidential government report disclosed by the Sydney Morning Herald last year revealed Sydney is losing to Melbourne when it comes to blockbuster theatre premieres worth millions due to a “critical” shortage of venues, which has caused a five-year logjam in bringing first-run shows to the city.

Construction and conversion costs are estimated at more than $100 million, with the new venues to be opened by 2026.

Foundation Theatre’s Chief Executive Graeme Kearns said he expected the new venues would satisfy demand for commercial theatres in Sydney, a cornerstone of east-coast theatre tours, for more than a decade to come.

Kearns advised “our plans to build a much-needed Broadway-style theatre in Sydney have cleared a major hurdle with our transaction for the event centre.

“The conversion of the event centre represents the most commercially viable option for a new theatre in Sydney.

“The additional venues that we are planning will be a great addition to the live performance ecosystem of Sydney as the industry continues to grow and thrive.

“In 2024, the Sydney Lyric welcomed more than half a million theatre-goers to our fantastic shows. With the addition of our new venues, more than one million people a year will see shows at The Star Sydney. We have some exciting new content planned for the venues.”

Foundation Theatres is a wholly Australian theatre owner, operator and production investor. Its current venues are Sydney’s premier large commercial theatres, the Capitol Theatre and Sydney Lyric, as well as the newly opened intimate theatre offering, Foundry Theatre.

Images: Foundation Theatres’ concept for the new theatre (top) and concert venue (below). Credit: Foundation Theatres.

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