Launceston’s O’Keefe’s Hotel set to change hands

CHEERS: O'Keefe's Hotel's outdoor section. Picture: Supplied
CHEERS: O'Keefe's Hotel's outdoor section. Picture: Supplied

O’Keefe’s Hotel on George Street is looking for new owners.

Real estate agent Knight Frank has listed the inner-city pub as up for sale through a leasehold agreement with the building’s landlord.

Only the business is for sale, and not the property, which includes a keno, rooftop bar and upstairs hotel and backpackers. 

Knight Frank consultant Rodney Rawlings said the listing represented a rare opportunity in Launceston’s CBD. 

“We’re quite pleased we’re able to offer this business for sale, particularly with how George Street is really lifting its profile,” he said.

“There are not many pubs or hotels like this that are in the local market –  It’s an old fashioned corner pub and there aren’t too many of those around any more.”

The listing for the establishment notes the buyer will be taking over a long-term lease and that the property has been recently refurbished. 

Mr Rawlings said the asking price for the business was only available privately on request, but it represented a “very affordable” opportunity for a family or for young entrepreneurs. 

“It’s in very good condition and the owner has put extensive work into the place, including installing a rooftop bar,” he said.

“There’s certainly that potential to turn it into a trendy pub or keep it as it is.”

Mr Rawlings said the current owner is selling the business to diversify his investments. 

For more information on the listing, contact Knight Frank on 6333 7888 or Rodney Rawlingso no 0419 323 626.