The massive AVC-operated Mansfield Tavern is being sold as a vacant freehold, for the first time in a quarter century.
The landmark pub consists of a public bar, gaming room with 31 machines, large entertainment space, detached function room/bistro and onsite parking for over 220 vehicles, with overall capacity for more than 1,000 people.
It occupies a sprawling 20,830sqm site 11 kilometres south-east of the Brisbane CBD, or a 20-minute drive from Brisbane Airport.
The hotel has a rich history as a live music venue, hosting internationally acclaimed acts including Offspring, The Cult and No Doubt, and Aussie legends such as Hunters and Collectors, Midnight Oil, Hoodoo Gurus, The Angels, Spiderbait and Jebediah.
Since 1997 the pub has been operated by Coles, which changed to the Coles-AVC joint venture following their partnership in 2019.
Marcus Levy’s Marvan Hotels bought the freehold title in early 2017, and in 2020 secured approval for a three-stage development designed by architect Cottee Parker, to be known as Wecker Road Markets, on a new 2.1ha precinct.
It would see the Tavern incorporated into new shops, offices, food and drink outlets, health care services along with expanded pedestrian walkways, a modern building design and landscape architecture treatments.
The freehold currently generates in the region of $980k annual rental income, with the current lease set to expire on 11 November, with no further options.
In a position to renegotiate a new lease with the existing or a new tenant, or bring into the existing portfolio, the Sydney-based Marvan has opted to test the waters in a competitive market.
The venue is being marketed by HTL Property, which has transacted very large-format hotels such as Brisbane’s Acacia Ridge, and Sydney’s Newport Arms and Crossways Hotels, and expects interest from investors and developers as well as operational hoteliers.
“The genuine national scarcity of 20,000sqm hospitality offerings really does engender strong levels of interest,” reports HTL’s Glenn Price, managing the sale.
The vacant freehold going concern of the Mansfield Tavern is to be sold via Expressions of Interest, beginning Tuesday, 25 October.
