THE multimillion-dollar site of city nightclub HQ — which attracts thousands of revellers each weekend — is to be put up for sale next month.

General manager Stephen Rose said the sale was timely, given the development of the new hospital.

“HQ wouldn’t be an ideal tenant next to a hospital ... I think a high-rise building will be (more) compatible with the hospital tenancy, that would be my guess,” he said.

However, Mr Rose says the intention is to keep the nightspot operating at its current location for at least the remainder of the year.

Mr Rose, whose father Rod has been involved with the club since 2006, said the club was now more successful than ever, which he credited to the high profile bands, such as Dandy Warhols and Hanson, that have performed at the venue.

He wouldn’t say if there were plans to relocate the club to a new venue post 2016.

Collectively owned by a group of investors, the 3000 sq m complex on North Tce also includes the state heritage listed Newmarket Hotel.

While an exact figure hasn’t yet been put on the sale, the prime slice of real estate is expected to fetch a multimillion-dollar price tag.

The sale comes as other prime sites hit the market, including the State Government’s headquarters, the State Administration Centre precinct on Victoria Square, which is expected to sell for up to $200 million.