Another well-known hospitality venue's building is now up for sale, with Lydiard Street North's closed Miners Tavern on the market.
Subscribe now for unlimited access.
$0/
(min cost $0)
or signup to continue reading
The pub was listed for sale this week with an asking price of $3.5-4 million, due to its unique size and diverse possible use, according to real estate agents Colliers International.
The venue stretches over three levels, with 2400 sqm of space. The space still holds a late-night liquor license to 2am, with a capacity of 990 people.
It follows the sale listing of the building encasing the Pub With Two Names on Mair Street for $3 million. The restaurant and gallery will continue on in the space, formerly the Peter Lalor, which was re-opened in April last year.
SEE THE 3D TOUR OF WHAT THE MINERS TAVERN LOOKS LIKE NOW
The Miners Tavern closed in February this year, after an administrator was appointed by the Australian Securities and Investments Commission. Opening in 2013, the space features a function area, a downstairs nightclub, multiple bars and a back terrace.
Colliers managing director Andrew Lewis said the space was "two to three times the size of any other pub in Ballarat" but it would likely have diverse uses or become a function centre as the city reaches capacity for pubs.
"It's going to stay as a hospitality venue in my opinion, but doesn't have to stay purely as a hotel," he said.
"It could easily be a microbrewery, a gin or whiskey palaces, there's lots of food courts that work in a similar building down in Melbourne.
"The location is amazing ... from the train station to Sturt Street, that's where you want to be."
The building is only one block across from the new GovHub next to the Civic Hall site, which is expected to be completed by 2021, with 1000 public servants to gradually enter the doors from the start of that year.
Mr Lewis noted that similar hospitality ventures in Ballarat, such as The George Hotel just one block toward Sturt Street, operated with multiple tenancies but different entertainment or function areas under roof.
The 19th century brick and bluestone warehouse was known as The Bended Elbow in the last decade, while previously The Canopy Club and Italian restaurant La Scala.
Opening in 2013, the space featured a function area, live music, a TAB, and a downstairs nightclub.
The venue has and entitlement for 30 pokie machines, but none are currently on site and would need to be sourced by a prospective owner. At the venue, there was a gambling machine expenditure between January and December 2017 at $1,413,779. In the year to December 2018, it was $1,009,928 - a 29 per cent drop.
Owners of the hospitality business at the Miners Tavern publicly noted significant electricity price increases in the year leading up to its closure.
