HOT PROPERTY INNER-WEST PUB ENTICED TO MARKET

In On the Market by Clyde Mooney

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Another prized Sydney freehold has come up for sale, in direct response to market demand.

FB_chalkboardIn the heart of the trendy, inner-west suburb of Stanmore, the Salisbury Hotel has targeted “family-friendly”, with strong food and bev trade, gaming and TAB, and a dedicated children’s play area.

It is being put to market by Brian Burgess through Ray White’s Joel Fisher, who has managed Burgess’ only other recent sales: Wollongong’s Dicey Reilly’s, and Raymond Terrace’s Spinning Wheel.

Burgess still holds the keys to around half a dozen pubs, and Fisher says this sale after 15 years’ ownership is the result of serious market pressure.

“After persistent approaches from numerous interested parties, he made the decision to put it on the market,” Fisher told PubTIC.

“It’s seriously one of the last opportunities for an inner-city sub-$10 million hotel.”

Located almost next door to Stanmore Station, a short walk from Parramatta Road and just eight kilometres from the Sydney CBD, the classic art-deco corner block design includes 22 unused rooms across its upper two levels.

It also features a free-standing bottleshop, with a two-bedroom terrace dwelling behind, a large outdoor area and char-grill bistro.

Currently holding 15 EGMs, the precinct is zoned Band 1, allowing 30 machines, and an incoming operator would have opportunity to apply for an increase.

The sale is by tender, closing 10 November, 2015.

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