Spring Hill’s historic pub, the Alliance Hotel, is on the market through a receivers sale

One of Brisbane’s oldest pubs – a three-storey Victorian-era beauty that’s loved by locals in this inner-city suburb – has been put on the market by receivers and managers.

A THREE-level Victorian-era inner city pub which had experienced a resurgence under a fourth generation publican is on the market through a receivers sale.

The freehold of the Alliance Hotel in Spring Hill is being sold under instructions from receivers and managers McGrathNicol.

The Port Office Hotel is back after completing a seven-month refurbishment program after a fire ravaged the historic building

Tony Harper: The Port Office’s new food offering is a gamechanger

Refurbished and under new management the Port office Hotel in the Brisbane CBD will be open for business at the end of February

According to a property search the freehold is currently owned by 320 Nominees, which is under administration and whose directors are Meagan Grzegorzewski and Nicholas Grzegorzewski.

Known as Meagan and Nic Gregorski, they bought the hotel and business in 2012 after the pub was vacant for a number of years.

They revived the hotel winning praise and business for the gastropub reinvention.

However, a couple of years ago sold they business. They took up the operation of the Port Office Hotel.

The Alliance Hotel is currently leased to PT Hotels & Property Group Pty Ltd until April 1 2022 with options available. The business operation of the hotel does not form a part of the sale.

An aerial of the Alliance Hotel in Spring Hill.

HTL Property Queensland directors Glenn Price, Brent McCarthy and Asia Pacific managing director Andrew Jolliffe, along with Ray White Commercial director John Dwyer, are selling the freehold through a national expressions of interest campaign that closes on March 4.

At 320 Boundary St, the hotel was built in 1888 and was designed by architect John

Beauchamp Nicholson, who also designed the Princess Theatre and the Norman Hotel at Woolloongabba.

It has a public bar, bistro and kitchen on the ground level, chalet bar and function room on the lower level; and a function room and manager’s residence on the first floor.

Mr Dwyer said the value of the property s underpinned by its near CBD location, serving to strengthen the investment opportunity.

“Investors traditionally seek comfort in the investment fundamentals of the suburb, with Spring Hill offering an inner-city locale enjoying proximity to a wide range of residential, retail, commercial, education, entertainment, childcare and public transport,” he said.

Mr Price said the freehold investment market for hotels across Australia has been starved of quality assets over the last five years.

“There have been minimal transaction events occurring despite an aggressive appetite from potential purchasers due to the low interest rate and low return environment of the wider economic climate,” he said.