Marcello Colosimo’s Momento has sent to market the sprawling Silverwater Hotel in Sydney’s west, less than three years after its rebirth from being a club.
Building on a string of successful new developments in the recent years, including Mullane’s Hotel in Baulkham Hills, Momento reimagined the former Dooley’s Waterview Club to create the Silverwater brownfield at the start of 2023.
Positioned beside Eric Primrose Reserve, on the southern bank of Parramatta River, it is central to factories, commercial towers and resident communities, catering to tradies, office workers and families in the underserved suburbs of Silverwater, Newington and Ermington.
With a site spanning 7,277sqm, the expansive hotel footprint offers multiple trading areas, incorporating a large bar and deck area, sports bar and TAB, refurbished bistro dining area, games rooms, events space, beer garden and parking for 98 vehicles.
The impressive gaming floorplan ranges 30 machines and holds Liquor & Gaming ranking of #57. Nearby are multiple Top10 pubs, such as the Wentworth and Markets hotels at Strathfield, Ermington Hotel and Rosehill Hotel.
Equipped with desirable 4am trading (Mon-Sat), and potentially still finding its market niche in the area, the Silverwater reports growing annual revenues of around $17 million (FY25).
The site is close to the Silverwater Road M4/WestConnex interchange, around 20 kilometres west of the Sydney CBD, and is close to the Ermington masterplan and Melrose Park development, bringing a total of more than 6K new residences.
Parramatta LGA is projecting a five-year compound annual growth rate of 7.68 per cent, which is expected to increase further through heightened residential density and what is a vast development pipeline.
The high-profile sale is via Expressions of Interest, closing Tuesday, 23 September, and citing “limited near-term capex requirements” for the freehold going concern.
Sources close to the deal suggest it could fetch sale price of $80 million.
It is being marketed by HTL Property’s Andrew Jolliffe and Dan Dragicevich, in collaboration with JLL Hotels’ John Musca and Ben McDonald.
