South Hobart’s Globe Hotel has been put up for sale, with the selling agent saying a buyer could keep it trading, lease it out or redevelop the corner site.
The hotel sits at 178 Davey Street, on the corner of Antill Street, about one kilometre from the Hobart CBD.
Elders Commercial is selling the property, which it describes as a “prominent freehold hotel on a substantial corner landholding”.
The listing says the two-storey building dates from around 1920 and has a floor area of about 1,345sqm. It sits on a 2,822sqm site spread across four titles.
The hotel includes a public bar, function room, commercial kitchen, drive-through bottle shop and 15 accommodation rooms, including a manager’s residence.
Its gaming room, which the listing describes as “recently refurbished”, has 30 gaming machines.
The property is being offered with vacant possession, apart from a rooftop signage lease that generates rental income.
“The property gives a purchaser the flexibility to operate it as a hospitality venue, lease it as a long-term investment or explore redevelopment opportunities,” the listing says.
Any redevelopment would require council approval. The site is zoned urban mixed use, which the agent says provides “future flexibility”.
The agent estimates about 30,000 vehicles pass the site each day, with multiple driveways providing access from both Davey and Antill streets.
The listing describes the site’s scale, corner exposure and dual frontage as “difficult to replicate”.
Several other Tasmanian pubs and hospitality venues have recently changed hands or gone on the market, including the Midway Point Tavern, the Republic Bar and the former Post Street Social and Observatory Bar site on Franklin Wharf.
In July, Pub Banc Group entered voluntary administration, forcing seven Hobart venues to close while administrators began a sale process.
Expressions of interest for the Globe Hotel close at 4pm on October 22.
