Mutlilevel nightlife spot in Fortitude Valley seeks new tenant
A fully fitted bar, restaurant and nightclub at the entrance to Brisbane’s Brunswick Street Mall in Fortitude Valley is seeking a new operator who can lure in Brisbane night owls.
The 458-square-metre property at 234 Wickham Street became available for lease this week and sits on the corner of Wickham and Brunswick streets, about 50 metres from Fortitude Valley railway station and at the entrance to Brunswick Street Mall.
The previous tenant operated for more than a decade as a nightclub, lounge and rooftop bar, and the next tenant is expected to follow a similar business plan.
“I expect the strongest interest from nightlife and hospitality operators,” Cushman & Wakefield national director Guy Stafford says.
“Because the building runs over three levels, it also suits a multi-concept venue with a different offer on each floor. The kitchen and bar infrastructure is already in place, so the right operator could move quickly and be trading for Christmas and New Year.”
Three levels of hospitality space
The venue’s 458 square metres of floor area is divided relatively evenly across its three levels.
The 153-square-metre basement can be used for storage or private functions, while the 155-square-metre first floor contains a fitted commercial kitchen, bar and stage primed for live entertainment and food and beverage service.
The 150-square-metre upper floor includes a fitted cocktail bar, back-of-house facilities and an external balcony overlooking Brunswick Street.
The property also has a large entrance from Brunswick Street and prominent external signage opportunities at the popular intersection.
An existing liquor licence may be transferred to an incoming operator, subject to regulatory approval, and the venue is approved for late-night liquor trading until 3am within the Fortitude Valley Safe Night Precinct.
Stafford describes the property as a “genuine plug-and-play opportunity” in a tightly held location.
“You have a prominent corner at the gateway to Brunswick Street Mall, significant pedestrian traffic and public transport virtually on the doorstep,” he says.
“The three-level configuration also gives an operator enormous flexibility. There is the ability to create different experiences across the venue, from live entertainment and dining through to functions and cocktails, rather than relying on a single trading format.”
Fortitude Valley nightlife precinct matures
Fortitude Valley remains Brisbane’s principal nightlife and entertainment destination, although the precinct’s mix of businesses and customers was changing.
“The valley is still Brisbane’s main destination for nightlife and entertainment, but it’s maturing,” says Stafford.
“The dining offer has become much stronger, and it now sits alongside destination venues people will travel for. Infrastructure and investment are supporting that, and with the council’s draft Fortitude Valley Sustainable Growth Precinct Plan due for release later this year, I think it’s a very good time to be getting involved in the precinct.”
Fortitude Valley railway station services more than 30,000 commuters and visitors each day, according to the leasing agents, while continued apartment development is bringing a larger residential population into the inner-city precinct.
Cushman & Wakefield director Liam Ghietti adds that the venue’s location and existing fitout would let an experienced operator focus on its hospitality concept rather than starting with a major construction project.
“[No.] 234 Wickham Street puts an operator right in the middle of that activity,” Ghietti says.
“Being around 50 metres from Valley Metro, on a highly visible corner and immediately connected to Brunswick Street Mall gives the venue an exceptional level of accessibility and exposure.
“The fact that it is already fitted for hospitality and entertainment means an incoming operator has the potential to move quickly and focus on bringing a strong concept to the space.”
