In September, it was revealed the iconic Coburg Drive-In cinema was up for sale. The heritage listed property spreads over 81,656 square metres and was listed as a 'multitude of future redevelopment options'.
Now, the property has officially been sold to Charter Hall property group, who currently oversee 768 buildings across Australia. Charter Hall's David Harrison said the company jumped at the $12.5m opportunity after recognising the 'better use options in the long term'.
Village Cinemas still hold a 10-year lease, so the drive-in isn't disappearing immediately. It's future afterwards is yet to be determined.