The suburb has transformed in recent years due to its proximity to the CBD and major public transport and road infrastructure with a range of mixed use and higher density residential developments emerging within the precinct.
Located at 102-110 Ipswich Rd, Woolloongabba, Inner Brisbane, The Norman Hotel is a trophy investment opportunity comprising one of Brisbane’s most iconic hotels.
The two storey hotel features 33 gaming machine licences (including 21 Landlord-owned) plus an iconic
restaurant, public bar, function area, beer garden, TAB and Keno.
The Norman Hotel Has been an institution within the QLD pub sector for many years.
The Property features convenient, grade level car parking for 72 vehicles providing a substantial future development opportunity by virtue of its Mixed Use MU1 (Inner City) zoning with a permitted building
height of 6 storeys (STCA) and sits on a 4,167sqm site area.
For sale through Tony Bargwanna and Michael Harcourt of Savills Hotels, The Norman Hotel is located 2.5 radial kilometres south of the Brisbane CBD and occupies an unrivalled location off the Pacific Motorway and features three street frontages including a 45 metre frontage to the north south arterial Ipswich Road.
According to Tony Bargwanna, National Director – Hotels at Savills Australia, “With assured income growth and substantial embedded real estate value, there is also genuine future value on completion of the lease , making this hotel a Win-Win investment for the future owner. Fixed 3.5% annual increases underpin income growth for the landlord.
“Not to mention that Woolloongabba is earmarked for major infrastructure upgrades over the next decade, which will include enhanced suburb connectivity to surrounding major public transport infrastructure.
“The area’s gentrification is set to accelerate with Brisbane’s $5.4 billion Cross River Rail project, earmarked for completion by 2024, enhancing the suburb’s connectivity to the CBD. The Woolloongabba Station will be just one stop (approximately three minutes) from the Brisbane CBD” he said.
According to Michael Harcourt, Associate Director – Retail Investments at Savills Australia, The Gabba stadium is also set for a major $1 billion redevelopment with the existing stadium being redeveloped to accommodate a 50,000 seat venue, which will play host to the Brisbane 2032 Olympic Games Opening and Closing ceremonies.
“These projects, together with the global spotlight that accompanies the Olympic Games is likely to continue propelling Woolloongabba into an era of major growth and urban renewal” he said.
The Norman Hotel is offered for sale by Private Negotiation through Savills Australia.