Heritage-listed building on the waterfront in Townsville is on the market
A heritage-listed building on the Townsville waterfront that has been a popular entertainment venue for decades is on the market and could be set for a new life as a boutique hotel, the selling agent says.
The ornate building at 108 Flinders Street was constructed in 1895 as the offices and warehouse for the once-famous Burns Philp and Co. Ltd trading company, but has since been divided into strata lots, several of which have hosted some of the city’s most well-known night clubs, including Bullys and Santa Fe Gold. Others have been used as offices.
The building has a floor area of 2039 square metres and includes about 600 square metres of vacant adjoining land on a separate title and a lease over the waterfront on Ross Creek. The combined site area is 2820 square metres.
Agent Shaun McLaren, of Colliers International, who is selling the building with colleague Angelo Castorina, said the current owner had held the property for more than 20 years.
“It’s always been run as an entertainment venue – most recently as a nightclub. It’s owned by a local owner who has run the entertainment venues for many years and now he’s looking to invest elsewhere,” he said.
Given the property’s prime waterfront position close to the city centre, Mr McLaren is anticipating interest from buyers who are looking to make the most of the location.
“We’re keen to sell it and we welcome interest within Townsville and outside of Townsville. People have spoken about turning it into boutique hotels or offices, there are a number of options.”
He said that the commercial property market in Townsville had been buoyed by confirmation of the Haughton pipeline duplication project and the new North Queensland Stadium.
“There’s probably a bit more confidence in the CBD, there’s a few properties that have changed hands – confidence on the back of the stadium and the pipeline – and that particular area is pretty popular given its proximity to Ross Creek and location in the CBD.”
The pipeline duplication is intended to augment water supplies in the town during periods of very low rainfall, with construction set to commence in March 2020.
The market has also been buoyed by Clive Palmer’s recent purchase of 104 Flinders Street, a much smaller property known as the “Queensland Building”, across the road.
“I think [the sale of the Queensland Building is] a very positive result for Townsville and the city, and there’s talk that he might use that space as his head office,” said Mr McLaren, who also sold that building.
Also built by by Burns, Philp, the Queensland Building is on a 230-square-metre site and fetched $780,000 at auction in October.
108 Flinders Street, Townsville, is for sale by expressions of interest closing December 19.
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