Victory Hotel, Brisbane CBD, owners Precision Group say venue will reopen

Brisbane CBD’s oldest pub, which will shut this weekend, will be reborn under a new operator while a Valley music icon will close its doors and another venue will join the party district.

The Victory Hotel in Brisbane’s CBD.

Fans of Brisbane’s landmark Victory Hotel will get a second chance to savour its famous dancefloor after the owners announced the venue will reopen next month under a new operator.

ALH Group confirmed on Wednesday in a shock announcement that it would not seek a new lease after its current 20-year leasing deal expired in March.

Fans of the pub, which in recent years has been so popular crowds of teens and young adults often stretched out the door and down the street, were shocked at news it would close on Sunday.

Some loyal customers met their husbands, wives or partners there and held fond memories.

Precision Group, who own the venue, did not reveal details but confirmed the venue would be back.

“We are pleased to announce the Victory Hotel will re-open later in March with an exciting new operator,’’ retail and commercial leasing executive Rory O’Brien said in a statement.

Partygoers at The Victory Hotel. Pic: Claudia Baxter

“The iconic Victory Hotel will start yet another new chapter in the hotel’s long history within the Brisbane CBD entertainment precinct.’’

Precision Group, a Sydney-based investment giant with more than $1 billion in properties across Australia under management, bought a property diagonally opposite at 144 Edward St in 2004.

It lodged plans with Council earlier this month for a laneway-style development at the site.

If approved, it would include a cafe and outdoor licensed area with retractable awning and improved mezzanine level.

An ALH Hotels spokeswoman said it was a sad time for them.

The Victory has been hugely popular in recent years.

“We are proud to have been the custodians of the Victory Hotel for the last two decades and we are sad to be saying goodbye to this iconic venue,’’ she said.

“We would like to thank everybody that has played some part in the operation of the Vic since 1993.

“A lot has changed in this time and we know a lot of memories have been made too.”

It is understood ALH decided that entering a new lease was not commercially viable for them.

The news comes as Fortitude Valley nightclub and music venue Laruche is gearing up to throw a massive closing party on February 26, with 16 hours of live music.

Laruche fans described it as one of the best live music venues in the city.

“Best in Brisbane by a mile,’’ Bianca Skerrett posted.

Jamie Nauta said it was the “end of an era”.

Laruche nightclub in the Valley is closing.

The Laruche closing party would run from noon to 10pm at nearby Bakery Lane before wrapping up at Laruche from 10pm to 3.30am.

One ticket covers all acts at both venues includin g️Stefano Nofer, i️Mattia Musella️, Rascal, Christian Kerr️, Ross Kent️, Vanessa Testa️, Sequënce️, Jay Berry️ and CSP Soundz.

But in some other good news for the city’s live music scene, the team behind King Lear’s Throne in Ann St the Valley has announced a new venue next door, to be called Bad Luck, which will focus on heavy music.