The landmark East Sydney Hotel in Woolloomooloo is being sold as a freehold going concern, making its first appearance on the open market in nearly 50 years.
The handsome three-storey pub was built in the Victorian Georgian style, in 1856, with an ornate parapet and copper-plated belfry atop the roof.
Approximately one kilometre east of Sydney’s commercial centre, close to St James, Kings Cross and Martin Place railway stations, it stands at what is the intersection of the CBD, Kings Cross, Potts Point and the Harbour foreshore.
For decades it has been the self-proclaimed “last country pub in Sydney”, providing a ‘layered’ trading business spanning bar, bistro, function spaces and ten accommodation rooms, but no gaming. It reports annualised revenue of approximately $1.9 million.
There is also an approved development application for a new rooftop courtyard, representing opportunity to expand trading capacity, which could potentially be coupled with an enhanced food and beverage offering.
The East Sydney is said to be in a similar genre to fellow city-fringe establishments such as Surry Hills’ Shakespeare and Hollywood hotel, Paddington’s Lord Dudley and the Lord Nelson, in the Rocks, all being iconic local corner pubs that have served Sydney-siders for generations.
Owners Sam and Fabian Marsden bought the hotel in 2013 from Harold and Trish Muller, who had held it since 1978. The Marsdens have relocated out of Sydney and are no longer able to give the hotel the hands-on attention in needs.
They have engaged JLL Hotels’ Kate MacDonald and Edward Browne to conduct an Expressions of Interest campaign closing Tuesday, 1 December.
No price guidance was provided but agents say the East Sydney is a “trophy” asset that is in need of fresh eyes and well positioned for its next chapter.
“The pub presents beautifully but requires a more hands-on operator for growth in the future,” says MacDonald.
