Crescent Hotel on the market for $129,000, drawing local and overseas interest

Have you ever wanted to run your own pub? The sale of one of Hobart’s most iconic businesses has received interest from as far as Switzerland, Germany and the United Kingdom.

The Crescent Hotel is up for sale for $129,000. Picture: Zak Simmonds.

An iconic heritage-listed Hobart pub business is up for sale.

The Crescent Hotel, at 100 Burnett St in North Hobart, is on the market for $129,000 and has drawn significant interest both locally and from overseas since it was first advertised last week.

The building is owned by Jiecheng International, which bought the property for $1.1 million in 2016, while the business is owned by Hobart’s Rob Wilson.

As of earlier this week, 18 inquiries had been received with some coming from as far as Switzerland, Germany and the United Kingdom.

Mr Wilson purchased the business in 2015 with the intention of developing motel accommodation at the site.

A development application was approved by council, but the project did not end up going ahead.

The pub business itself closed within about six months and has been unoccupied since.

Mr Wilson said he was pursuing other business interests, but said he could see a good opportunity for a prospective buyer.

“It’s a good little pub with a lot of potential,’’ he said.

Link Business Brokers Tasmania director Nawwar Alshawi said the price was reflective of the fact the pub had not been operational for some time.

“It’s a good opportunity for someone to bring a bit of energy into that spot,’’ he said.

“The amount of interest is reflective of the price and many see it as being attainable.”

The ground floor hotel premises includes a bar, dining and commercial kitchen with a first-floor apartment that sleeps 10, and large external deck area featuring expansive views.

The site incorporates extensive on-site parking.

HISTORY

The Crescent Hotel was formerly known as Lime Kiln Hotel because lime kilns were situated nearby where Hardcastle now stands. The name was possibly changed to the Crescent when the second storey was added in the 1900s. Frederick Watson was licensee from 1858-1895.

ABOUT THE BUILDING

The Crescent Hotel is a two-storey stuccoed brick hotel is in the Old English style. Corrugated iron covers the roof that comprises projecting gables, and the building also has three brick chimneys. All the windows on the first floor are 12-paned and double hung. On the ground floor, all windows are single-paned and double hung with the exception of one stained glass window which is a feature of the northern facade. A brick firewall is located at the eastern end of the building. The original form was a hipped roof building with regular 12-paned double hung windows. The Old English gables were added in the early 20th century.

Source: Tasmanian Heritage Council.