Hot Docs Film Festival is considering selling its namesake theatre in Toronto, Green Street News can reveal.
The festival organization sought an assessment of value for the Hot Docs Ted Rogers Theatre. One source estimated the Bloor Street property was worth up to $8.4m based on a direct comparison approach. On an income valuation approach, the property’s value was assessed at up to $7m.
Hot Docs purchased the theatre, at 506 Bloor Street West, from Blue Ice Group in 2016 with a $4m gift from the Rogers Foundation. At that time, the theatre was renamed from the Bloor Hot Docs Cinema.
The theatre is home to the Hot Docs Canadian International Documentary Festival, the largest documentary festival in North America.
On May 22, Hot Docs announced the theatre would shut down for approximately three months starting on June 12. The closure was positioned as a cost-saving measure as the festival faces an operating deficit following the pandemic.
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