A blank canvas hotel space has been listed in Brisbane’s thriving West End, ready for an ambitious operator to capitalise on the precinct’s diverse demographic.
The commercial property at 391 Montague Rd is on the corner of Rogers Street, amongst an array of retail businesses and near Montague Markets, featuring anchor tenant Woolworths. A block away is the lauded Thomas Dixon Centre – Queensland’s “home of ballet” – which recently appointed a partnership of Venues Live and Shane Delia’s Delia Group as hospitality partners.
It is proximate to more than 40 residential towers, housing a broad population including families and students.
The three-level venue provides 600sqm of internal space, equipped with a high-end A/V fitout (Kv2) and current commercial hotel licence. Permitted capacity is 250-pax, and there is onsite parking available.
The Brisbane-based Kibble family has owned the title since 1995, and redeveloped it in 2021.
A recent tenant fell into financial strife and the family opted to put the space to market as a vacant possession.
“It’s an opportunity for an experienced operator,” says Brett Kibble.
On offer is a 10-year lease plus options, looking for rent of $470 per square metre ($282K annual), which includes outgoings and is said to be “negotiable for the right operator”. Additional space is available if required.
West End is a high-density area and beyond a ready-made local market the business stands to benefit from its capacity to operate one onsite and up to three satellite bottleshops for the precinct.
The vacant premise at 391 Montague Rd is available via Expressions of Interest, closing Wednesday, 30 July.
