The iconic, heritage-listed theatre and object of much debate and controversy in Mudgee, will go up for auction on March 26 at 11am this time handled by Mudgee First National Real Estate.

Robbie Palmer from First National said just about everyone knows the cultural significance of the building in Mudgee.

"The building deserves the attention that it gets, in my opinion," Robbie said.

"Speaking personally, I've got memories going right back to seeing Grease to seeing Lady and the Tramp. The first time I was allowed to go to the movies on my own, I think it was The Empire Strikes back. I saw the Choirboys there.

"The building itself has been at the heart of Mudgee's pop culture and social life from the day it opened until the day it closed."

Robbie said since the announcement of the auction went up late Thursday evening, he has already had nearly a dozen emails and phone calls from people interested in the sale.

"There's people that are out there that would like to do something with it, whether they can or not, remains to be seen," he said.

"The building deserves that whatever happens to it to be a big deal. It's, it's part of the town's culture and streetscape. And and I'm pretty sure whoever ends up owning it, will take that into consideration with whatever they choose to do."

On the subject of potential buyers, Simone Sheridan of the advocate group Revive The Regent said the group had been relatively quiet in 2020 while the building was in the hands of a liquidator, as it remains.

The general position of the group is still that they would prefer that Council purchase the building. Simone said she believes a lot of people are making assumptions about the viability of the Regent as a theatre thanks to poor information and said the group will fight to inform people as best they can.

"What what we want to do over the next six weeks is continue to disseminate correct information about the building and potentially attract a buyer if Council will not discuss it, which appears to be the way it's going," she said.

Simone said the potential viability of the Regent as an ongoing entertainment venue is even stronger now given Mudgee's continued tourism growth, pointing out Mudgee's recent inclusion on a list of the world's most 'saved' destinations.

"At the moment you can only seat 80 people in the Town Hall in a region of thousands. So we can socially distance inside that theatre well, and it can be done COVID safe," she said.

"The people that sort of put pressure on us to buy the theatre. They don't seem to understand that... the community didn't have to buy the pool or the stadium or the library. This is another cultural asset.

Simone said some have pushed back agains the art gallery development on Market Street because they see it as a project that takes resources and attention away from the theatre. But she disagrees.

"We can do both, Mudgee can be both. I can see it now. We're an affluent area we've got the mines we're booming with housing prices, tourism is up, this is the perfect time for the Regent, really."

A controversial development application (DA) lodged in 2018 proposed turning the building into a multi-use facility which included accommodation, function centre and bar facilities.

This proposal was knocked back by Council and an amended DA was put forth.

Anyone interested in purchasing or bidding on the Regent can get in touch by contacting First National Real Estate Mudgee.