 For some years he maintained the pattern set by his father, but in 1969 the family company, Carroll Freeholds Pty Ltd, leased the Princess to the Australian Elizabethan Theatre Trust.Over time, the theatre was used less frequently, and the theatre fell into disrepair.In 1986, David Marriner purchased the theatre and commenced a renovation and refurbishment to restore the building to its 1922 state, and improve its technical capacity.