Wollongong nightclub Hostage X is on the market.
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The upper Crown Street venue, which is licensed for 400 people, was opened in December 2008 and was distinctive then for its luxe red and black interior, custom-designed furniture and top-notch DJs.
Elders Real Estate Wollongong principal Lou Niceski said around $1 million had been spent on the renovation and set up of the building.
Mr Niceski said the sale, which is price upon application, included the equipment and fittings which comprise airconditioning, tap beer system with 16 taps, fridges, ice machine, cool room, sound system, furniture and lighting.
‘‘It’s an A1 setup with nothing to spend,’’ he said.
‘‘It can also be split into two venues.’’
The business has a 3am licence.
Mr Niceski said the nightclub was well-positioned in a growth area of the inner CBD, close to the $200 million GPT redevelopment of Wollongong Central and the roof-top bar Humber.
‘‘That end of Crown Street is really taking off,’’ Mr Niceski said.
‘‘There have been new high-rise apartments built in Gladstone Avenue in recent years and the Wollongong Private Hospital project is going to transform that end of town.
‘‘That part of town is really going to grow over the next three to four years and that will translate as well into the social life of the city.’’
He said the nightclub was a highly profitable business, which had tapped into the young market through band nights and running some big events with Sydney-based promoters.
Trained staff were available to ensure the bar and nightclub operated smoothly, he said.