In 2009 Prahran Mechanics' Institute sold the building located on High Street to Swinburne University of Technology.

The PMI building is the current home of special collections of the Mechanics’ Institute of Victoria, the Cinema and Theatre Historical Society and the Victorian Railway History Library.

[8] With more than 40,000 books for loan and a professional information service for members, it provides a central resource for research into the history of Victoria and Australia.

[9] In the long tradition of mechanics' institutes, PMI runs a programme of educational activities including free public lectures and workshops.

It also operated the Prahran Mechanics' Institute Press, which was a not-for-profit publishing service for authors writing about aspects of the history of Victoria.