Hideout building hits the market at $5.3 million
How much does it cost to buy a 135+ year old building on Queen West? Well, it'll run you $5.3 million if you're after the property that currently houses the Hideout. Built in 1879, it's a heritage site that also boasts eight apartment units in addition to the ground level bar and patio.
What the sale of the building says about the future of the Hideout is a bit dubious. The bar's lease would be transferred over to a new owner, which means it's staying at the corner of Queen and Denison regardless of whether or not the building changes hands.
It is, however, noteworthy that the real estate listing cites below market rental rates as an "upside potential." What the next landlord ultimately envisions for the property is anyone's guess, but corporate retail continues to proliferate in the area, and it sounds like the rent is about to get a whole lot more expensive at 484 Queen St. West.
Update: The building at 482-484 Queen St. West is no longer on the market. The Hideout space is, however, up for lease starting January 1st, 2017. We'll update this post as we gain additional information.
Photo by Laurence on Flickr.
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