Melbourne’s iconic Palace Theatre is under threat from developers who reportedly plan to demolish the property and replace it with a 30-storey hotel.
The project is proposed by Jinshan Investments, owned by Xian Xu, who bought the property after it went up for auction in June last year. Over the weekend they revealed their plans to build over 40,000 square metres Australia’s first W Hotel with 205 hotel rooms and 145 apartments. W Hotel is a chain that began in New York and has over 60 hotels worldwide.
