An Iconic city hotel freehold with a lucrative tenancy in place, situated in a precinct of Hobart City undergoing substantial change from daytime office and retail outlets to high density city living. In fact around 200 dwelling are currently approved or pending approval for residential living within a four hundred metre radius of this property. The location of this hotel can only benefit from this current residential city fringe progression.
This iconic building is a striking example of Victorian regency architecture. Built in 1846 when the Duke of Wellington himself was still alive and has enjoyed a continual liquor licencing renewal since that year. Situated on the corners of Macquarie and Barracks Street, with the magnificent Anglesea Barracks, Hobart's military base just a few minute's walk away, its fortifications expanded and its most prominent buildings constructed one year after the opening of the Duke of Wellington Hotel in 1847.
Although the liquor licencing agreement allows for trade from early morning until midnight the current licensee tenants open the business from Monday to Saturday 5pm until 10pm, closing Sundays and public holidays whilst operating without poker machines or gambling.
We believe that this property not only offers a solid revenue inclusive of the 2022 CPI of approximately $150,000 Including GST, yet presents an amazing opportunity for the future, with a multitude of business opportunity as yet untapped.
Its location is within around 600 metres from the centre of Hobarts CBD and around the same distance from the historic Salamanca Place precinct, which incidentally was named after the battle of Salamanca in Spain, under the command of none other than the Duke himself under his previous guise as the Earl of Wellington.
