Historic Hobart pub needs new owner

The Duke hotel at No.192 Macquarie Street, Hobart. Picture: Supplied

WHEN a Tassie pub buying opportunity comes knocking, investors are always ready to open the door.

Can’t blame them, really. What would be better than owning building like this?

For the next custodian of the historic Duke of Wellington Hotel, which dates back to 1846, there is a wealth of potential in this two-storey city property.

Location, location …

Corner position.

Lennard McLure director John Lennard described the location as “exceptional”.

He said with Hobart city undergoing substantial change from daytime office and retail outlets to high-density city living, a ton of people will be moving into the area that The Duke has called home for over 170 years.

“About 200 dwellings are currently approved or pending approval for residential living within a 400m radius of the pub,” he said.

“You are going to have a great customer base right on your doorstep.

“The location of this hotel can only benefit from this residential increase across the city’s fringe.”

The Duke.

The Duke.

Mr Lennard said the current tenants have a good lease in place with a couple of years left to run and an option as well.

“I see this building as a fantastic opportunity for the future,” he said.

“They pay a reasonable rent, about $150,000. But in the future, should this tenant or a new operator wish, there is potential for expansion of trading hours or taking a different approach with poker machines or gaming.

“It’s got a lot going for it, including a huge dance floor.”

Although the liquor licence agreement allows for trade from early morning until midnight, the current licensee opens from Monday to Saturday, 5pm until 10pm, closing Sundays and public holidays.

The Duke.

The Duke.

Mr Lennard described the iconic building as a “striking example of Victorian Regency architecture”.

“It was built in 1846 when the Duke of Wellington himself was still alive and has enjoyed continual liquor licensing renewal since that year,” he said.

“The location is on the corner of Macquarie and Barracks Street, with the Anglesea Barracks — Hobart’s historic military base — just a few minute’s walk away.

“Its location is also about 600m from the centre of Hobart’s CBD and the same distance from the historic Salamanca Place.

“Salamanca was named after the Battle of Salamanca (Battle of Arapiles) in Spain, under the command of none other than the Duke under his previous guise as the Earl of Wellington.”

The Duke.

The Duke.

In recent years, The Telegraph Hotel, Crown Inn, Flamingos Bar, Cascade Hotel, Queens Head, T42, Waratah and Republic Bar have all changed hands.

For the owner of The Duke, Mr Lennard said he had reached the age where retirement was appealing, and this is the primary reason for selling the building.

No.192 Macquarie Street, Hobart is listed with Lennard McLure. It will be sold by expressions of interest, closing on February 25.