An internationally renowned, financially struggling Toronto movie house known for the documentary films it shows has been listed for sale by CBRE.
The global brokerage said in sales material obtained by CoStar News that it is offering the Hot Docs Ted Rogers Cinema building at 504 to 508 Bloor St. West for sale. The property is owned by Hot Docs, according to CoStar data.
CBRE said the cinema is an "iconic freehold property" at Bloor and Bathurst streets in an area known as the Annex.
Hot Docs closed the theater temporarily last summer to manage some financial struggles. Ownership said it plans to remain at the site.
"As part of its longer-term rebuilding strategy, Hot Docs has decided to seek a new owner for its cinema and secure a lease-back arrangement that will allow programming at the cinema to continue," Hot Docs said last month. "The organization is actively seeking a buyer who values cultural spaces and creative enterprise, and who demonstrates a commitment to the legacy of the cinema as a vital hub in the city."
The cinema opened in 1941 as the Midtown Theatre and was renovated and relaunched in 2012 as Bloor Hot Docs Cinema. Four years later, it was rebranded as Hot Docs Ted Rogers Cinema following a donation from the Rogers Foundation.
Film festival venue
The theatre has 650 seats, serves as the main venue for the annual Hot Docs Canadian International Documentary Festival and screens documentary films year-round.
"Hot Docs is an internationally renowned organization with a strong network of philanthropic and sponsorship partnerships," CBRE said. "There is a unique opportunity to collaborate with a trusted name in the industry. Hot Docs is committed to preserving the rich cultural and community significance of this iconic cinema in the Annex but is also open to potential partnerships to ensure the cinema's vibrant legacy."
CBRE officials said they could not comment further on the listing.
The site includes 5,568 square feet of freestanding commercial space on 7,727 square feet of land.
In the sales material, CBRE said the site is on land that could form part of an assembly for a future condo, noting the location's proximity to the Bathurst subway station and position within a protected major transit station, making it a candidate for development.
Hot Docs officials said in October that the 32nd Hot Docs Canadian International Documentary Festival would return to Toronto from April 24 to May 4, 2025. It also said general programming would resume on Dec. 4 after the hiatus to focus on cost-cutting measures and stabilization efforts, program assessments and internal restructuring.
"Over the past four months, the Hot Docs team has worked tirelessly to address the organization's financial challenges and governance issues, and significant progress has been made to stabilize the organization and establish a solid foundation for a sustainable path forward," the group said last month.