A team of five people have purchased the business with plans to breathe new life into the venue.

Felicity Cripps, Tim Heath, Andrea Distefano, Campbell Hynam-Smith and Jono Hill have experience in the music, film and hospitality industries.

The Theatre Royal is a popular live music and cinema venue that has been operating since 1854.

It has hosted a number of national music acts as well as local events and blockbuster films.

Proprietor and leaseholder Maggie Fookes stepped in to run the business when the business operator moved on unexpectedly in August last year.

“I love the Theatre Royal but this past 15 months has been a whirlwind. I have taken on too much and I have to make choices,” she said.

“This business needs a team of operators with the energy and experience to care for her and take her into another stage.”

In the remaining time until the handover, Ms Fookes said she wanted to thank the community.

”We will have free screenings and there are also some great live performances taking place here in the next few weeks,” she said.

Anyone interested in the screenings and performances should log on to www.theatreroyalcastlemaine.com.au or phone the theatre on 5472 1196.