Brisbane Archdiocese mulls future for empty Stock Exchange Hotel

One of Brisbane's oldest pubs, which closed its doors unexpectedly late last year, has an uncertain future, as its owners – the Catholic Archdiocese of Brisbane – mull their next steps.

The Archdiocese purchased the Stock Exchange Hotel, on the corner of Edward and Charlotte streets, in 2019 for a sale price of $29.5 million, property records show.

The Stock Exchange Hotel, on the corner of Edward and Charlotte streets, has been operating since 1863 in Brisbane.Credit: Google Maps

In November last year, operators the Riversdale Group unexpectedly announced the hotel would close, leaving the 157-year-old pub empty.

Built in 1863, the Exchange was listed by Brisbane City Council as a local heritage place in 2009, cited for its age and cultural value as one of the settling city's many pubs offering hotel accommodation to a burgeoning population.

This month, the Archdiocese applied to Brisbane City Council for an extension on an approved demolition application lodged in 2016 by the former owners.

Although the Archdiocese is asking for an extension, it's understood another lessee would be welcomed into the venue to replace the Riversdale Group.

In a statement, the Archdiocese said there were "no immediate plans for the site given the unexpected end of the previous lease".

"COVID-19 has thrown up many surprises, including in the CBD which has been impacted by the shift to remote work for many people," the statement said.

"In that environment, there has been no chance to provide detailed consideration of plans for the site."

The demolition application, as approved in 2017, allows for the removal of the "modern building fabric" at the back of the hotel, retaining an 1880s extension to the original building on Edward Street as well as the original hotel on the corner.

The demolition application approved by the council in 2016 would remove a number of modern additions to the Stock Exchange Hotel on Edward Street in Brisbane.

A heritage report lodged with the original demolition application noted the demolition would have "negligible impact" on the heritage aspects of the site.

"What little original early fabric remaining on the site which is recognisable as such ... will be retained," the report said.

At the time, the Archdiocese objected to the demolition application, writing to the council in January 2017 that any demolition would directly impact properties it owned either side – Penola Place on Edward Street, and Archives Building on Charlotte Street.

But after purchasing the site in mid-2019, the Archdiocese asked the council to extend the demolition application for another three years; the council granted a one-year extension.

On January 11 this year, the Archdiocese lodged a fresh request to extend the demolition approval, out to 2023.

In a letter to the council on behalf of the Archdiocese, planners Urbis said the Archdiocese had invested "significant resources and time" into the site, but the economic impact of the pandemic had put work on hold.

The council has not yet responded to the extension request.

The Archdiocese statement said the hotel and the grounds of St Stephen's Cathedral had "coexisted for more than 150 years".

"There are no plans to do anything that would disrupt the valuable green space provided by the Cathedral grounds, which are available to anyone to relax during the day."