Meeting of minds at Theatre Royal Hotel after UTAS adds pub to portfolio

ONE of Australia’s oldest hot­els is set to become the new watering hole of some of Hobart’s best and brightest minds.

Theatre Royal Hotel Campbell Street Hobart

ONE of Australia’s oldest hot­els is set to become the new watering hole of some of Hobart’s best and brightest minds.

The University of Tasmania has bought the Theatre Royal Hotel for $1.7 million with a view to creating a future social hub for its growing inner-city campus.

Built in 1834 by Cascade Brewery founder Peter Deg­raves, the property is located next to the Theatre Royal, which will soon be directly linked to the university’s $90 million Academy for Creative Industries and Performing Arts on the corner of Collins and Campbell streets.

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Knight Frank real estate agent John Blacklow said the sale process was very competitive and strong interest also came from outside the state.

“We put it up for a four-week tender process and had a price bracket of $1.3 to $1.5 million and we received nine tenders and of those nine, five were in excess of the top range,” he said.

The property went into receivership after the former owner fell ill, Mr Blacklow said.

The Theatre Royal Hotel, in Campbell St, is set to become a social hub for students and academics.

Vice-Chancellor Professor Peter Rathjen said the site was ideal for the university’s expansion into the city.

“Modern university buildings are very porous, allowing a high level of interaction bet­ween the city and its citizens, and the activities of the university,” he said.

“As we develop the inner city campus in Hobart, we will need spaces which become soc­ial environments, along with those which are devoted to teaching and research.

“This will be a place in which students, staff and business leaders can gather, in the heart of their community, and it will produce invaluable conversations within, between and across disciplines.

“This is how new ideas are formed and it will serve to enrich our research and teaching, and strengthen our community, business and industry links.”

UTAS chief operating officer David Clerk said the flexible nature of the hotel meant it could be used in a number of different ways.

He said the university’s growing city presence raised the profile of education and increased aspirations.