Historic Brisbane pub hits market with $40m price tag

May 6, 2019
By Alana House

The pub known as “Brisbane’s worst vegetarian restaurant” because of its reknowned steakhouse is up for sale.

The heritage-listed Norman Hotel in Woolloongabba, first opened nearly 130 years ago and is priced at $40 million.

It serves more than 200,000 steaks a year and is renowned for buying “the lead steer” at the Ekka auctions.

The hotel is being sold by the Power family – of Power’s Brewery fame – which bought it for an undisclosed sum in 2015.

Power’s Brewery was established in the 1980s with the aim of taking on CUB and XXXX and was eventually bought by CUB in 1993.

The Courier Mail reported the Power family bought the pub from South Australia-based Independent Pub Group in a deal “worth about $7 million”.

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.

The property includes a public bar, restaurant, function area, TAB, and a large beer garden.

The freehold is being sold by private treaty, with Savills Brisbane’s Tony Bargwanna the exclusive marketing agent.

Share the content