Historic Normanby Hotel to ignite Brisbane pub market

Iconic and historic Red Hill pub the Normanby Hotel is on the market for the first time in almost two decades.

The heritage-listed watering hole, just north of the Brisbane CBD, is expected to be sought after amongst food and beverage operators and major publicans, courtesy of its position on the doorstep of Suncorp Stadium.

It also lies just 200m from the upcoming $2 billion ‘Brisbane Live’ entertainment precinct.

Commercial Insights: Subscribe to receive the latest news and updates

Built in 1890 and extended in 1917, the hotel has been co-owned by Otto Wilhelm and software mogul Michael Dempsey since 1999.

The pub has been extensively refurbished over the years.

Agents say Dempsey, who sold his electronics payments business Ezidebit for $305 million in 2014, is offloading the property to focus on other business interests.

The property includes a huge 3683sqm site, the multi-level pub and a large car park, as well as a restaurant, gaming machines and bars.

“The hotel boasts huge underlying value with 35 gaming machines on site offering significant gaming upside potential. On top of this, the prime location of the hotel and the huge expanse of land this asset offers makes it an obvious development play in the future,” CBRE’s Paul Fraser says.

The pub occupies a huge site in the heart of Brisbane.

“Ultimately the incoming purchaser has a blank canvas in which to reinvigorate and reposition the pub immediately whilst also having the future opportunity to maximize the site to its highest and best use through substantial development.”