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The NSW Government is reported to have agreed to a 45-year-lease with the owners of Sydney’s historic Theatre Royal for a private operator to refurbish and run Australia’s oldest theatre venue.

Sydney newspaper The Sunday Telegraph has today reported NSW Arts Minister Don Harwin as saying that the NSW Government has committed to a 45-year-lease with the venue’s owners, Dexus, with a private operator to refurbish and run Australia’s oldest theatre institution.

Closed since 2016, the future of the Harry Seidler-designed theatre has been in doubt as Dexus ignored a 1980s agreement on the operation of the venue.

Last year leading live performance industry figures began a campaign to reopen the venue, which has operated from its current site since 1875.

While Minister Harwin has not issued a statement on the new deal, The Sunday Telegraph quoted him stoking up the rivalry between Sydney and Melbourne over the staging of major productions.

Minister Harwin told The Sunday Telegraph “as a city and as a state we’ve missed out too often to Melbourne and we’re just not going to take it anymore.

“It’s clearly the case that the producers of Harry Potter would have rather come to Sydney but there weren’t the theatres available and sensing that, the Victorians made them an offer they couldn’t refuse.

“We’ve just got to stop letting that happen and we’re determined to make Sydney and NSW number one again when it comes to attracting shows like that.”

Minister Harwin said the shutdown of the 1100-seat Theatre Royal left Sydney with only two venues suitable for big-name productions - the Capitol and Lyric - compared with Melbourne’s four.

He said the reopening will provide a boost to the NSW economy and attract more first-run productions, adding “these sorts of shows deliver very significant benefits to the state and it’s not just the price of a ticket but it’s also the accommodation sector that benefits from visitors.”

The negotiations of the new Theatre Royal lease are yet to be finalised but the tender process for the private operator will start after next weekend’s NSW election.

Minster “we will seek expressions of interest from established theatre operators here in Australia and around the world to come and effectively sublease it.

“It will be their responsibility to pay for whatever upgrades are needed to make it fit for purpose for the sort of performances that they will put on and we will recognise that in the rental agreement that we strike with them.”

Dexus Chief Executive Darren Steinberg said the new deal was a “great outcome for Sydney and its night-time economy.

“We look forward to activating our development plans for a vibrant retail and dining precinct to support the success of a future theatre offering, as well as the wider Martin Place precinct and the many workers and visitors to this area every day.”

Disney’s Frozen musical, opening at the Capitol Theatre next July, is expected to bring $43 million to NSW.

A new 1500-seat lyric theatre is also planned as part of the redevelopment of the Powerhouse Museum site after is relocation to Parramatta.

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