Popular beer boutique hits market in trendy inner-Brisbane suburb
A popular beer boutique in trendy West End has hit the market with a 31-year lease that would take the publican through some of the most exciting years in Brisbane’s history.
The Archive Beer Boutique at 100 Boundary Street, West End, is for sale via expressions of interest which close August 27, according to agent Paul Fraser of CBRE Hotels.
He said the property had undergone a million-dollar renovation 18 months ago, and had drawn around 80 enquiries so far from traditional publicans to craft brewers.
“It’s a craft beer bar at the moment, that’s what it specialises in, but it is an ideal space if someone wants to put a craft brewery into it.”
“Given its location next to the billion-dollar West Village redevelopment, it’s just set for the short, medium and long term. It fits the trendy Bohemian edgy demographic of West End. It fits in perfectly as an institution in the area. It’s just carved out a complete market for itself. It has very strong loyal local patronage.”
Offers were expected around the $4.5-5m mark for the property which has a lettable area over 1,400sq m.
“It’s a huge area across the entire building, which works out at $266 per sq m approximately which is a compelling rental amount,” Mr Fraser said.
“This is a strong food and beverage operation. It’s niche because it is a craft beer pub however it has a long established history and a consistent performance over 11 years. It’s an incredibly robust business and even through Covid has produced strong profit year on year. It has a loyal base.”
Mr Fraser said the lease was for the whole building “so there is also a large upstairs area”.
“I’ve had some strong enquiries for it as a live music event space as well.”
The two-level building sits on 1,335sq m at one of the busiest roads in West End – Boundary Street – with a full commercial late trading liquor licence (2am) with the ability to have three detached bottle shops within 10kms.
It was listed as having a functional and flexible layout that allowed for multiple income streams and double street frontage and “enough floor space available for an in-house satellite craft brewery”.
The deal was for the head lease over the entire building, allowing for subleasing and diversifying of income streams.
“I’ve had a lot of enquiries from southern states, people wanting to get up into Queensland and have a strong consistent business even in times of uncertainty,” Mr Fraser said.