The Library Nightclub in Northbridge, Perth has been sold for $4.6 million – marking the end of hospitality company Entertainment Enterprises’ 34-year connection with the venue.
A private investor purchased the property, which comprises a two storey, free-standing venue positioned on a 505sqm site.
Entertainment Enterprises acquired the property in October 1983, opening Hannibal’s Nightclub – a significant milestone for Perth’s nightlife scene that saw around 2000 people queue to attend the launch party, which also starred Elle McPherson.
It has been rebranded several times over the past three decades, including its most recent iteration as The Library that features an eclectic fit out with more than 11,000 books, an illuminated dance floor and mood lighting.
CBRE Hotels’ Chloe Mason said the sale of such an iconic venue attracted strong buyer interest.
“The opportunity to secure the freehold, business and Nightclub Licence within the tightly held Northbridge precinct attracted widespread interest from nightclub owners, hospitality investors and developers,” Ms Mason said.
“The new owner of The Library will only further benefit from its central position in Northbridge, which is undergoing significant urban revitalisation through the State Government’s Perth City Link project.”
The ground floor and mezzanine area covers approximately 740sqm, inclusive of segregated private function rooms. The second level features bars and lounge areas with the mezzanine available for private functions.
The sale of The Library follows Entertainment Enterprises’ decision to focus on its portfolio of bar and restaurant venues, which includes newly opened gold plate award winning restaurant, Rambla on Swan, Tiger Lil’s, The Empire Bar and soon to be redeveloped Varga Lounge.