Legion for sale
Saturday, 7th June, 2014
By Nick Gibbs
After closing its doors for the final time three months ago, the Club Legion site is due to hit the commercial market in a matter of weeks.
An invitation to submit a marketing appraisal was offered to a number of local real estate agents before BH First National was appointed by administration firm PKF Lawler.
First National Proprietor Zeta Bennett said the property would be sold via a tender process, allowing interested parties the opportunity to conduct building inspections and market research prior to making an offer.
Ms Bennett said current market conditions and the unique nature of the building made it difficult to predict how much attention it would generate, but was hopeful possible buyers would identify its value.
“Look I hope so, it’s hard to say,” she said, listing a commercial function centre or office space as lending themselves to the lay out.
“I don’t think it will be another club.”
First National will begin marketing the property following an asset clearing auction expected shortly.
The real estate agent has featured a number of commercial and industrial properties locally, with the sale of the Palace Hotel around two years ago showing the most parallels with the Legion project.
The total land spans over 3700 square metres including the beer garden and car park, and comprises features such as a full commercial kitchen, auditorium, bar and bistro as well as multiple bathroom facilities.
Ms Bennett said the administrator would have final say on whether to accept or decline any offers received, but felt stakeholders would want the sale to take place as quickly and efficiently as possible.
“It has to be sold, let’s face it,” she said.
It is not believed the building is subject to heritage restrictions
“I don’t think that will factor,” Ms Bennett said.
“Of course, any future use will be subject to council approval,” she said.
She said the sale of the Broken Hill icon was unfortunate, but it was not possible to keep running an unviable commercial venture.
“It’s a sign of the times,” she said.
Club Legion first opened in the city in 1947, catering for returned servicemen and women.