The historic and troubled Broadway Hotel in southern Brisbane is being sold by a developer, armed with plans for a large-scale residential tower added to the site in the urban renewal corridor.
Brisbane publican Michael McKenna bought land in Woolloongabba and built his substantial Broadway Hotel, opening in 1889 a John Hall & Son’s designed three-storey brick hotel in the elaborate late-Victorian style known as Queen Anne Revival.
Intended as an imposing structure to attract attention, it became a local landmark and in 1992 was added to the Queensland Heritage Register.
The Broadway operated until a fire in 2010 brought about its closure. In 2018 a second fire seriously damaged the building and it has remained closed since. A state government Stop Order prevented attempts to demolish it.
Developers Carbone Group acquired the property since the pandemic and set about designing and preparing an application for a mixed-use scheme.
Situated just a few kilometres south of the Brisbane CBD, within the broader Brisbane Olympic Games investment corridor, the plans called for a mixed-use tower to be built directly behind the hotel on the 2,508sqm freehold.
It would comprise 256 apartments across a 34-storey tower, plus 276 parking spaces, bicycle facilities and activated ground-level tenancies, with the Hotel restored and reopened.
Working with Economic Development Queensland to determine the best design for the site, Carbone secured approval for the development in January.
The real estate benefits from exceptional connectivity, proximate to key transport upgrades including the Cross River Rail Woolloongabba Station slated to open in 2029, as well as Princess Alexandra Hospital, major employment hubs and continued investment across the Gabba precinct such as the new Brisbane Live Arena and the proposed redevelopment of Stanley Street, the location is said to be on the cusp of a ‘once-in-a-generation’ uplift.
Family-owned Carbone Developments deals in medium scale projects in Brisbane’s northern suburbs, and the family have decided to list the asset to focus on their existing pipeline.
Carbone has appointed Knight Frank’s Christian Sandstrom and Blake Goddard, who report strong interest from developers, and accommodation and hospitality operators, amid a recognised shortage of hotel rooms in the lead-up to the Olympics.
“The Broadway Hotel site occupies a gateway position within one of Brisbane’s most transformative inner-city precincts,” offers Sandstrom.
Agents report the vendors will look at selling to a pub operator to refurbish and revive trade at the Broadway, capitalising on its scale and proximity to game-changing investment.
“It’s a unique opportunity, and I think the right hospitality group could do a special offering there to cater to the new residences that will be built in the area in the coming years,” furthered Sandstrom.
