Woolloongabba's historic Norman Hotel hits the market for $40m
A piece of Brisbane’s hotel history has hit the market with a $40 million price tag.
The Norman Hotel, at 102 Ipswich Road, in Woolloongabba, first opened its doors nearly 130 years ago when horse-drawn trams were still a novelty on the roads. These days it is known as “Brisbane’s worst vegetarian restaurant” because of its well-regarded steaks.
The hotel was originally designed by John Beauchamp Nicholson in 1889 and welcomed its first customers in 1890.
The popular beer garden in the pub. Photo: Savills
Former owners include Castlemaine Perkins, of the famous XXXX beer brand, which reportedly bought the hotel in 1900.
The hotel is being sold by the Power family – of Power’s Brewery fame – who bought it for an undisclosed sum in 2015.
Power’s Brewery was established in the 1980s to compete against the big brewers – XXXX and CUB – and was eventually bought by CUB in 1993.
A fire broke out in the hotel in 2009, which necessitated the evacuation of hundreds of customers during its busy lunch-time service; the hotel reopened a month later following repairs.
The pub is on a 4167-square-metre site and is leased to an established pub operator on an annual gross rent of more than $1.8 million, according to its listing. It also has an annual rental increase of 3.5 per cent in October.
The property includes a public bar, restaurant, function area, TAB, and a large beer garden, which is popular with patrons on warm Brisbane days.
The freehold interest of the Norman Hotel is being sold by private treaty, with Savills Brisbane’s Tony Bargwanna the exclusive marketing agent.
