Derelict Brisbane pub for sale, but doubts remain on its future
It has made headlines for years, for all the wrong reasons. Now, this landmark 1889 pub is for sale. But will anyone buy it?
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Woolloongabba’s fire-ravaged Broadway Hotel is up for sale, but the once glorious 1889 pub is so badly damaged property insiders wonder if a buyer will ever be found.
The hotel has been the subject of numerous Council and State Government stop orders since owner Malcolm Nyst applied to demolish it. Council unanimously rejected the move last year.
Dr Nyst said in 2019 that the building, which has lost its roof after three fires, was too structurally unsound to be saved.
Council approved demolition of World War II air raid shelters at the rear of the property, but Dr Nyst was ordered to protect the pub itself from further deterioration.
Steel reinforcing can be seen propping up the walls, however the building is still exposed to the elements after a distinctive mansard roof collapsed.
First National real estate recently listed the 2508 sqm property for sale, saying that it was suitable to be refurbished.
It has zoning approval for a mixed-use development of up to 20 levels.
Seb Monsour, the brother-in-law of former Premier Campbell Newman, offered to buy the property, but the deal was conditional on approval to develop a 27-level unit tower on the site. That deal fell through in 2018.
“Prime corner location with excellent exposure, walking distance to world famous The Gabba sport grounds, near major hospitals and the Cross River Rail station, 350m to South City Square, Woolworths, BWS and Reading Cinemas,’’ an advertisement for the property said.
“Woolloongabba Core Precinct is home to several major residential and commercial developments.
“Situated on a prominent corner of Logan Rd and Balaclava St, the heritage-listed Broadway Hotel offers its truly stunning old charm look of the last century era to passing traffic.
“The hotel’s interior suffered considerable fire damage in the past and is now being assessed for refurbishment to bring back its original glory.’’
An adjacent single-storey office building is also for sale with the hotel.
But hotel brokers and property experts said the site would be a challenge.
CBRE national director of pubs, Paul Fraser, said it had no poker machine licences which made it more difficult to generate sufficient income and the relatively small area was problematic.
“You can survive, and even thrive, without poker machines if you are a good publican,’’ Mr Fraser said.
“It’s just harder because pokies give you a constant cash flow.
“A successful pub has a few elements - a large area so you can cater to families, people who want to watch sport and have a drink, people who want to be with friends in a beer garden; ample carparking; and gaming machines.
“Parking is an issue in that area.’’
He said the property’s “highest and best’’ use probably was as a development site, which meant building on the beer garden area and turning the hotel into a coffee shop, cafe, restaurant or boutique pub servicing any apartments or offices.
However property experts said a residential development also faced challenges, including the large amount of new units nearby at South City Square and in the Stones Corner/Woolloongabba area.
More unit towers are planned in the area despite soft price growth in the local apartment market.
Dr Nyst was approached for comment.
The Gabba Councillor, Jonathan Sri, reiterated his previous calls for Council and/or the State Government to buy the hotel site and build a mini-park where the outbuildings once stood.
He also said the main building could be used as a community centre, domestic violence shelter or women’s drop-in centre.
“I’d like to see it turned into a community facility,” he said.
“Maybe a small park and a bit of green space next to it, and perhaps a few moderately sized buildings in the backyard.’’
Council has repeatedly called for the building to be refurbished, but has not offered to buy it.
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