Critics have hit out at plans announced by Lord Mayor Nick Reece to sell off the City of Melbourne's share of the historic Regent Theatre.

Critics have hit out at plans announced by Lord Mayor Nick Reece to sell off the City of Melbourne's share of the historic Regent Theatre.

Critics have hit out at plans announced by Lord Mayor Nick Reece to sell off the City of Melbourne's share of the historic Regent Theatre.

The City of Melbourne has passed an urgent motion opposing Nicholas Reece’s push to sell the historic theatre.

The City of Melbourne has passed an urgent motion opposing Nicholas Reece’s push to sell the historic theatre.

The City of Melbourne has passed an urgent motion opposing Nicholas Reece’s push to sell the historic theatre.

The City of Melbourne has passed an urgent motion opposing Nicholas Reece’s push to sell the historic theatre.

The century-old Collins Street institution is estimated to be worth between $40 million and $50 million, and the council owns a 51 per cent stake.

The century-old Collins Street institution is estimated to be worth between $40 million and $50 million, and the council owns a 51 per cent stake.

The cash would provide a serious sweetener to the City of Melbourne’s $781 million budget and rather more than the Regent Theatre, which is co-owned...