Hot Docs sells its cinema for $6.25 million, but will continue leasing it

Hot Docs has sold its flagship cinema but will continue to run the space in Toronto’s Annex neighbourhood.

The organization that runs Canada’s largest documentary film festival says the buyer is a “neighbour who is interested in supporting the arts in Toronto,” who has asked to stay anonymous.

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A spokesperson says the building on Bloor Street West sold for $6.25 million.

The non-profit put the theatre up for sale last year as it warned supporters that financial pressures were putting the festival at risk.

Hot Docs says the sale came with a multi-year leasing agreement.

The century-old cinema is a cultural landmark in the Annex, acting as a hub for the Hot Docs festival and screening Canadian and international documentaries, along with hosting special events and showcases.