It is a nostalgic farewell for Melbourne's The Palace Theatre which will be closed permanently, following a demolition plan to start in May 31, 2014.

The iconic entertainment theatre was established in 1860 and became a home to world-class music acts in the region. It can cater 1855 persons in one event, and is the only theatre in Melbourne to have such large space. In 2013, the Palace Theatre's operators have been encouraging the government to preserve the century-old building, but their pleas were not given attention. In the Palace's official press release, the announcement shows the owners' regrets in finally giving up the place they believe as Melbourne's heritage in the music industry for the longest time.

Notable acts which were featured at Melbourne's The Palace Theatre include Guns N' Roses guitarist Saul Hudson, the Australian rock singer-songwriter Angry Anderson, and Andrew Stockdale from the hard rock band Wolfmother. The Palace Theatre also hosted MTV Classic Australia in 2010.

The demolition of the Melbourne's The Palace Theatre will signal a start for the owner, the China-based developer Jinshan Investments to rise a proposed 15-storey boutique hotel according to a report by The Age. The operators and Australians supporting the theatre's preservation gave their best efforts to convince the state government, but the announcement of the demolishment cemented the decision, leaving the operators with no option but to vacate.

The news of The Palace's demolition saddened some of music enthusiast and raising concerns of Melbourne missing top music acts due to lack of appropriate entertainment venue. Some Australian's are still hopeful that the decision will be altered, petitioning on a Facebook Page that acquired 33,542 likes as of this writing.

"Whilst Victorians are passionate about sport, they're really passionate about music. The Palace Theatre is a vital component of Victoria's music industry and thus must be saved. Afterall, that's what the Save the Palace campaign is all about." The Save the Palace Theatre admin stated in answer to a Facebook commenter's question of what the campaigners are "getting" by trying to save the Palace."

Whether the decision of the Melbourne's The Palace's closing would go through is still a subject to be watched for. There are two months left before the demolition, and changes are not impossible to happen during the period of time.

Read the complete The Palace press release via their Web site.

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