The Lilac Place cinema, with its distinctive 1950s architecture, is on the market for a "negotiable" $4.95 million through Peter Mylonas Property Solutions.

Part-owners, Andrew and wife Mandy Moore listed the four cinema complex for sale in November, 2023 but haven't had any takers yet.

Mr Moore said he and Mandy wanted to retire and travel around Australia.

"We wanted to get out of the business in 2019. We had an interested party but then COVID hit in March, 2020," he said.

"We closed the cinema and withdrew the sale because we felt a new owner wouldn't cope financially."

Instead, the couple used part of their retirement savings to sustain the business.

Now with patronage increasing to a sustainable level, the Moores are ready to retire.

In 2023, they and Mr Mylonas offered the building back to Goulburn Mulwaree Council to purchase but this was declined.

"I thought it would make a great location for a community centre because at that time they were looking to do one in Bourke Street," Mr Mylonas said.

"They were not interested but for me, it seemed like perfect timing."

The cinema was the old Lilac Time Hall, built by the former Goulburn City Council for the community in the early 1950s. Bill Fawkes operated it as a cinema from the early 1990s, while still closing sections for live performances. Mr Fawkes then added a dedicated cinema on the eastern aspect.

Andrew's father, Ron, purchased the business in 2000 from Mr Fawkes. Soon he bought the building from the council for $500,000. It was very much a family concern with Andrew's brothers, Greg and Adam also involved. Later, Andrew and Mandy's sons, Matthew and Steve worked there.

Two more cinemas and a foyer were added in 2020 and 2021.

The family also owned the Dumaresq Street cinema in Campbelltown, which they sold in October, 2023.

Andrew said he'd experienced his fair share of challenges, including a drop in patronage in late 2022, early 2023. At the time, he urged the community to "use it or lose it." Numbers have recovered somewhat but Andrew says there's room for more.

"Wakefield Park's closure was a bit of a blow to us because some patrons would come to the cinema on a Saturday night," he said.

"We have also lost our core clientele of over 65s because some retirement places have large televisions or their own theatrettes...I'd love to see numbers double because it's not what it used to be."

But the cinema still makes a profit, employs 15 part-time staff and retains the same 160 to 180 ranking in NSW as previously in terms of patronage. It also receives first release films.

The digital technology introduced in 2013 is a far cry from the 35mm film reels Mr Moore recalls with fond nostalgia.

When he arrived in 2006, feeding the reels was valuable therapy for his wrist, damaged in a 2003 trucking accident.

"Digital films made life easier but the projector created a real atmosphere with the clickety-clack noise. You could see and hear what was going on," Andrew said.

Forming community friendships were among the many highlights.

Last year, Andrew said he sat down with his sons and his brothers' families to gauge interest in the business. All wanted to pursue their own directions.

Now he says it's time for him and Mandy to do the same.

The property, for sale by private treaty, includes the four cinemas, foyer, amenities, plant and equipment. Mr Moore said he would also consider offers to purchase the business and lease the building.

"It's a good business and a husband and wife, with a few core staff could have a good income from it," he said.

"My wish is for it to continue as a going concern."