Historic strip club venue is up for sale

 

TOWNSVILLE's historic Burns Philp building has been listed for sale, raising its potential for further development as well as a possible relocation of strip club Santa Fe Gold.

The property in Flinders St East is being offered with vacant possession but building owner Greg Pellegrini, who also operates the strip club in the building, said what became of Santa Fe Gold depended on negotiations with a buyer.

"We are keen (for Santa Fe Gold) to stay here … but it would depend on negotiations. The building could be sold with vacant possession or (Santa Fe Gold) could be staying here or relocating if we have to," Mr Pellegrini said.

It was an "opportune time" to gauge interest in the property after recent sales in the city, Mr Pellegrini said.

The Bank nightclub building has just changed hands, the Masonic Lodge recently sold and the Public Trustee building is under contract.

A marketing agent for the Burns Philp building, Angelo Castorina of Colliers International, said there was a lot of interest in Townsville property from southern buyers.

Mr Castorina said properties providing "passive investment" - where they had good tenancy and lease periods - were snapped up almost immediately.

Properties with the potential for added value - like the Burns Philp building - were "the next best thing", Mr Castorina said.

Apart from its history as a birthplace of former global trading giant Burns Philp, key features of the property included a waterfront lease, an additional 600 sqm of adjoining vacant land and a strata title structure over the building.

The lease on to Ross Creek allowed for a boardwalk or outdoor entertainment area.

"The waterfront lease could be the next big feature to be developed in that part of Flinders Street East," Mr Castorina said.

The two and three-storey rendered masonry building was built in 1895 for the former shipping company and merchant which became a conglomerate controlling over 200 companies in a 100 separate industries before its sale and delisting in 2006.

The Bullwinkles nightclub, which previously operated on the ground floor, closed about four years ago, while Santa Fe Gold continues to trade on the second level.