Sydney’s theatre conundrum: $80m to spend but nowhere to put it

Theatre producer Michael Cassel has a problem. He’s got $80 million to build a new theatre in Sydney’s CBD, but nowhere to spend it.

With the backing of Silicon Valley private equity giant Silver Lake Partners, Michael Cassel Group wants to alleviate the shortage of commercial theatres in Sydney, which delays shows by two or three years for lack of an available stage.