71-75 Gilbert Road, Preston VIC 3072

Property Details: • Type: House

• Bedrooms: 9 • Bathrooms: 2

Description: Unleash the Potential of Preston's Iconic Rivoli Theatre. Built originally in 1936, this architectural treasure is one of Preston's most storied landmarks, rich in history and alive with possibility. Embrace a once-in-a-generation opportunity to secure a rare fusion of heritage, scale and transformative potential. This grand old dame offers a substantial footprint in the heart of Preston's thriving cultural precinct, just steps from the vibrant energy of Miller Village, renowned for boutique shopping, trendy cafes, gelato bars and direct tram access to the city. This site is also zoned for Bell Primary and Coburg High Schools. Occupying a commanding 860sqm (approx.) corner allotment at Gilbert and Oakover Roads, with over 25 metres of frontage across four titles. Located in a General Residential Zone Schedule 2 (GRZ2) and free from heritage overlay, this storied gem offers a compelling canvas with exceptional flexibility. Whether you're a developer, investor or creative visionary, this is your chance to raise the curtain on its next chapter, be it a boutique residential development (STCA), contemporary gallery, live music or events venue, cinema, or a distinctive retail or hospitality destination that honours the building's rich past while embracing a dynamic future. Retaining its authentic architectural fabric, the Rivoli offers a rich and adaptable interior layout. Key features include: -Original timber floors throughout -Mezzanine level and projector room -Grand foyer with period character -Authentic stage -Spacious storage room -Three versatile ground-floor rooms, with kitchenette and toilet facilities with shower -Rear courtyard -Street access via roller door, ideal for loading deliveries, or functional reconfiguration Elevated above the theatre sits a charming apartment, ideal for owner-occupiers, short-term rental, or use during future development. This residence features: -Two spacious bedrooms, one with wardrobes -Central bathroom with bathtub, walk-in-shower, vanity and toilet -Expansive open-plan living area -Well-appointed kitchen with stainless steel gas cooker and dishwasher