The Melody Theatre was at 177 Plenty Road Preston, and appears to have opened around the time when the Gowerville (at 175 Plenty Road)closed in 1954. It is still mentioned as recently as 1974, but may not have been operating.
Sands and McDougall’s Melbourne and Suburban Directory 1864- 1974. [Microfiche]. (1974). Melbourne, Australia: Sands & McDougall.