Most-viewed: Pubs and motels hit the market post-pandemic
Pubs are attracting a lot of attention in the commercial property market as interest in the hotel and leisure sector grows after COVID-19 lockdowns.
The most-viewed listings on realcommercial.com.au have featured the highest number of hotel and leisure properties since the end of March, when the coronavirus pandemic and lockdowns began.
The listings attracting attention in the last week have included a fire-damaged tavern in Balingup in Western Australia’s South West, the Cambridge pub in Newcastle and the Aberdeen Court Motel in Punchbowl, Tasmania.
A plethora of Australian watering holes are currently on the market, while there has been a string of large pub sales in recent weeks in a sign of the sector’s resilience.
One of last week’s standout commercial propositions was the most-viewed listing in South Australia – the Art Deco, New York-styled cinema the Odeon Star in Semaphore.
The historic cinema, which originally opened as the Wondergraph Picture Palace in 1920 when it cost three pence a show, became the Odeon Star in 1952.
Most popular commercial listings across the country
Here’s a snapshot of last week’s most-viewed commercial listings state-by-state:
NSW: Iconic pub
789-791 Hunter Street & 5-7 Denison Street, Newcastle West
Newcastle’s iconic Cambridge Hotel is seeking a new owner. Picture: realcommercial.com.au/sale
Newcastle’s iconic Cambridge Hotel is seeking a new custodian.
For sale as a freehold acquisition, the landmark pub currently operates as a venue with three dedicated sessions for live music, 16 rooms for student accommodation, a separate two-level commercial building and 19 car parking spaces.
In addition, there is a licence for eight poker machine entitlements on the title.
The existing lease ends in June 2023.
Victoria: Redevelopment opportunity
315-317 Johnston Street, Abbotsford
The buyer can either occupy, invest or redevelop this property. Picture: realcommercial.com.au/sale
This original brick property in Abbotsford could present as a multitude of uses including as a residential property or business with a large garage or workshop.
The building comprises 140sqm of the 277sqm block on the city’s outskirts, with 9m of street frontage on Johnston Street and rear access with a wide laneway.
The location, which is close to the Yarra River trail, Victoria Park train station and Johnston Street’s eclectic mix of retail shops, cafes, bars and restaurants, has been Victoria’s most viewed commercial listing for the past two weeks.
Queensland: Office complex
7 Brandl Street, Eight Mile Plains
The modern office facility at 7 Brandl St, Eight Mile Plains. Picture: realcommercial.com.au/lease
An office complex in Eight Mile Plains continued to attract attention last week, taking out the title as Queensland’s most viewed commercial listing again.
Located 15 minutes’ drive from the Brisbane CBD in the popular Brisbane Technology Park precinct, the lease includes 1260sqm of office space on the first floor and a further 631sqm on the ground floor.
About 50,000 vehicle movements a day are estimated to pass the corner site.
ACT: Restaurant investment opportunity
Two Farrer shops leased to restaurants are up for sale. Picture: realcommercial.com.au/sale
Two shops tenanted to restaurants in the Farrer Shopping Centre are being offered for sale as an investment opportunity.
The listing is the most-viewed commercial property in the ACT in the past week.
The sale includes four units, which are leased to restaurants. A single unit is rented to an Asian eatery until March 2021, with a four-year option; and the other, a three-unit space, is tenanted to a Nepalese restaurant until September 2022 with a further five-year option.
Both tenancies have their own kitchenette, cool room, heating/cooling system, dining space and access to female and male toilets.
South Australia: Art deco cinema
Art Deco cinema the Odeon Star is up for sale. Picture: realcommercial.com.au/sale
South Australia’s most clicked-on commercial listing last week was a rare opportunity to buy a loved Art Deco cinema, the Odeon Star in Semaphore.
The historic cinema originally opened as the Wondergraph Picture Palace in 1920, when it cost three pence a show, and became the Odeon Star in 1952. Part of the building also served as a secondhand emporium until the late 1990s.
In addition to the cinema, an established barber shop rents part of the complex, with a lease in place until 2025.
Tasmania: Historic homestead
Mount Morriston, 1758 Tooms Lake Road, Ross
This historic Tasmanian homestead and pastoral holding is for sale. Picture: realcommercial.com.au/sale
Set amid rolling hills and green plains, this romantic homestead and pastoral holding attracted keen interest online last week as the Apple Isle’s most popular listing on realcommercial.com.au.
Comprising more than 9300ha, the Ross property Mount Morriston is one of Tasmania’s largest landholdings and has historically been used as a wool growing enterprise. It was once owned by famous Japanese wool baron Ken Fuji.
The Georgian sandstone and bluestone homestead, which dates back to 1849, includes nine bedrooms and six bathrooms, as well as a formal dining room and country-style kitchen with a butler’s pantry.
There are also nine farm cottages and a five-bedroom cottage, as well as stone stables and outbuildings.
Western Australia: Balingup pub
2 Blackwood River Drive, Balingup
The Balingup Tavern continues to attract attention. Picture: realcommercial.com.au/sale
This Balingup pub needs some restoration after a kitchen fire last year.
But potential buyers have not been deterred by its condition, attracting significant interest for the third consecutive week to top the most-viewed commercial properties in WA.
Crafted from local river stone, the striking pub in WA’s South-West needs some TLC to bring it back to its true glory.
Electrical and plumbing services have been reinstated to the property, but the building needs further work, particularly to the kitchen, before it can operate as a pub again.
It is on the market from $498,000.
Northern Territory: Lodge and fishing operation
The lodge and fishing operation at Melville Island has come to market. Picture: realcommercial.com.au/sale
The Melville Island Lodge and associated fishing charter business Tiwi Island Adventures retained top billing in the Top End last week after attracting considerable interest in recent weeks.
Two leasehold titles – a 2640sqm lot, which includes the fishing lodge and related accommodation, and a separate 947sqm parcel – are up for sale.
Close to Kakadu National Park and the Mary River Wetlands, the property comprises the lodge and supporting infrastructure, including a manager’s residence and staff quarters, 11 operational fishing vessels and nine vehicles including a bus and petrol tanker.
