A builder with a passion for live music is taking a loss in order to see Brisbane remain an incubator for live music in Australia.
Scott Hutchinson is spending $43 million to fill the void left by the iconic Festival Hall, yet the new venue will only be valued at $25 million.
Work has begun on the project at 312 Brunswick Street in Fortitude Valley under the working title of Fortitude Hall.
The development will see the 3,500-capacity venue complement The Triffid, which Hutchinson Builders opened in the inner-city suburb of Newstead in 2014.