Press release from TM Publicity
Palace Cinemas today announced that it has reached an agreement to expand the four-screen Palace Verona Cinema in Paddington to a seven-screen venue.
Devised in consultation with the building’s owner Robert Bleakley, this new development will ensure that Palace can continue to offer the community a superior depth of programming, despite the recent closure of the beloved Academy Twin.
Palace Cinemas Executive Director Benjamin Zeccola said: "We're extremely pleased to reach this agreement and are excited at these plans to expand what is already one of Australia's best performing quality cinema venues. It demonstrates our willingness to invest in quality and sophisticated cinema locations.
“We know there's a keen audience for intelligent cinema on Oxford Street, and this step will ensure that Sydney's cinema-goers can continue to experience the very best films and festivals on offer, including quality Australian films, at a venue that provides the utmost in comfort and ambience."
The value of these additional Palace screens to the Australian film industry is underscored by box office performances of Australian titles over the past year. Palace Cinemas have been instrumental in the success of almost all of the recent Australian films in theatrical release.
Almost half of the entire box office for Samson & Delilah (42%)* and Beautiful Kate (44%)* was derived from Palace screens, which is triple the results to that of the nearest competitor.
The box office for Animal Kingdom is now sitting at 33%* from Palace locations. Palace screens also made up a third of the box office for Balibo and Bright Star.
The owner of the Verona Cinema building, Robert Bleakley, is a well known figure and supporter of the arts in Australia.
"I am very excited about being able to facilitate the expansion of The Verona Cinema,” Mr Bleakley said. “Knowing that this sudden but welcome opportunity will assist in supporting the exceptionally creative film community in Australia is a bonus.”
The national Palace Cinemas group operates two other Sydney venues – Paddington’s Chauvel Cinema and Palace Norton Street Cinema in Leichhardt – amongst a total of 96 screens across 24 locations in Melbourne, Sydney, Brisbane, Perth and Adelaide (including co-owned venues).
Development plans for the Palace Verona Cinema will be finalised in the coming weeks.