''We need it desperately because the Opera House is covered,the Sydney Theatre Company's glorious centrepiece is down at The Rocks,they are looked after,and we only have two big houses which are the Capitol and Lyric Theatre with 2000 seats,''Mr Frost said.''To get a booking there for a producer you are waiting up to two or three years sometimes.''
The need for a new lyric theatre was first identified by the Cultural Infrastructure Strategy developed by Infrastructure NSW in 2016 and underlined by uncertainty around the reopening of the 1100-seat Theatre Royal. The theatre was to have opened mid this year after a period of renovation.
Co-owners of the MLC Centre are currently reviewing development approval granted for a new high-end luxury shopping space,a dining precinct and an upgrade to the ground-level entries including the Theatre Royal.
“With Dexus’s recent acquisition of 50 per cent of the MLC Centre,all options to enhance the property are currently under consideration by the co-owners,” the company's spokesperson said.
The loss of the Regent Theatre in 1988 and Her Majesty’s Theatre in 2000 means Sydney has fewer theatres than Melbourne suitable for staging long-running musicals.
A capacity of between 1500 and 1700 seats was optimal,said Mr Frost,managing director of the Gordon Frost Organisation which broughtThe Book of Mormon to Sydney. Such a venue could feasibly stage touring musicals and Broadway plays as well as grand productions by the Australian Ballet and Opera Australia.