Schiavello buys Queensbridge Hotel
Residents in Australand’s high-end Freshwater Place might have their million dollar views blocked, with developer Tony Schiavello picking up the prominent riverfront property next door, once the QBH nightclub.
The purchaser is speculated to be paying $10 million for the Queensbridge Hotel at 1 Queens Bridge Street.
On 717 square metres, it abuts another of the businessman’s properties.
Australian Leisure & Hospitality Group – managed by Bruce Mathieson and Woolworths – was the vendor.
QBH has in recent years been the scene of more than one violent episodes, following a recent brawl its patron limit was cut by 700 to 1500.
Mr Schiavello said he plans to refurbish the space as a showroom for his furniture business.
A high-rise apartment development is mooted longer term,
The developer recently applied to build a 66-storey, 616 unit residential tower, Prima, at nearby 31-49 Queens Bridge Street.
