Summary
Iconic Sovereign Hotel, this two-story property with a rich history offers a lucrative investment opportunity for savvy investors and developers alike!
Location Details
807 Flinders Street
Stand alone building on a large footprint in the Townnsville CBD
Potential
Unlimited potential with previous uses as an iconic hotel, hostel accommadation and most recently being an events venue
Skills
Developer with vision and foresight
Hours
Not Applicable
Lease
Freehold purchase
Employees
Not Applicable
Reason for Sale
Part of a larger property disperment leading into retirement
About the Business
Are you looking to invest in the heart of Townsville's bustling business district? Look no further than the iconic Sovereign Hotel located on Flinders Street.
Why you should purchase this great investment opportunity:
• Liquor licence allows you to cater away from the venue!
• Located in the Drink Safe Precinct
• Public bar with show stage and dance floor with DJ facilities
• 8 x Furnished airconditioned rooms, mix of single and double
• Full length covered front veranda
• Manager’s residence with a rear deck
• Second bar with function area
• Bathroom amenities
• Commercial kitchen
• 2 x Cold Rooms
• 60 Panel, 15kw solar system
• Pool room with beer garden
• Storage area
• Large detached office donga
• Airconditioned workshop with two car lockups
• Excellent location
• On-site carparking at rear
• Alternative rear access via Sturt Street
• Endless opportunities for a developer
The Sovereign Hotel is a historic building in the Townsville region. Located in the CBD Gateway Precinct, this excellent investment opportunity can be set up in an endless number of ways to maximise return on investment.
With approximately 598sqm of ground floor space equipped with a kitchen and restaurant seating, there is potential here for a restaurant or pub-style set up. The fully operational main bar is the primary feature along with a stage and dancefloor with lighting equipment is that perfect for events or opening a nightclub. This primary floor flows out into an outdoor, undercover beer garden. The first floor comes in at approximately 513sqm with furnished, airconditioned rooms in a mix of single and double beds. Additionally, there is a manager’s residence with a rear deck, a kitchen, bathroom amenities and a full length, covered front verandah. The premises is also equipped with a fire sprinkler system and a 15kw solar system. Also included with the hotel premises is a liquor licence which gives the holder the freedom to cater and sell alcohol off-premises should the need arise.
This property is loaded with features which can be taken advantage of through many configurations from accommodation and restaurants through to reigniting its history as a nightclub. Due to its location in the Drink Safe Precinct, it is possible to extend the liquor licence to 3am giving you the ability to serve those late-night patrons. With two main street frontages on both Sturt Street and Flinders Street, this property presents an incredible opportunity in a priority CBD development.
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