Hobart waterfront hotel hits the market
JUST steps from the riverside, few Hobart pubs could boast a more impressive location than the iconic Telegraph Hotel.
And now this historic watering hole is on the market.
The owners have had the property for close to three decades, which speaks to the rarity of it being available to purchase.
The property is described as a “fantastic opportunity” for experienced operators to put their stamp on the premises.
Knight Frank sales consultant John Blacklow says the property offers a huge upside.
He says it is a hotel with an atmosphere that draws in passers-by.
“This opportunity should not be underestimated; it has always been the case that the Hobart waterfront is where the action is,” John said.
“The Telegraph Hotel has certainly been a popular pub, especially for tradies and the younger crowd at night.
“However, I would say it has been very underused as it has not been operating during the day and the large first floor area is only used for offices.”
John said the property’s potential was bound to be attractive to buyers.
There is a roof area that would make a fantastic open-air bar with views of the harbour and Salamanca.
“I’d say it is likely the buyer will redevelop it, especially given that it is not heritage listed,” he said.
“It is a great opportunity to rebrand and put their own stamp on it.
“While this is a freehold sale, the vendors are willing to commit to a long-term flexible lease for the right tenants.”
The pub operators have run the hotel successfully since 2009.
Their lease is in place until April 30, but they will not take up an available option from that point onwards.
The pub’s current trading days are Wednesday through Saturday.
The hotel’s prime position places it on the doorstep of major Tasmanian events like Dark Mofo, the Taste of Tasmania, the Festival of Voices, Wooden Boat Festival and the finish line for the Sydney to Hobart Yacht Race.
It’s within a few hundred metres of Salamanca Market, Hobart’s cruise ship hub, the Mona Ferry, MACq 01, Parliament House, the Tasmanian Museum and Art Gallery, and the CBD.
The hotel was originally built in 1858. It is not on the Tasmanian Heritage Register, but it is set within a heritage precinct.
Back in the 1990s, locals knew the pub as the Brooke Street Bar and Cafe, then later, in the early 2000s, it returned to its heritage as the Telegraph Hotel.
The pub was originally known as the Electric Telegraph Hotel before having
its name shortened to The Telegraph in 1877.
The hotel was rebuilt following a fire in 1939.
No.19 Morrison Street, Hobart is listed with Knight Frank. Its expressions of interest campaign will close on March 25 at 4pm.