A rare pub sale has begun on the iconic Bondi beachfront, as Point Group look to divest their operation of the Greek-themed Topikos – one of only four hotels fronting the world-famous strip.
Topikos is on street level at 180 Campbell Pde, offering a spacious bar and dining area including prized alfresco seating serving a Greek-themed foodservice, and a gaming room with 20 machines. It holds a 1am licence and boasts 400-person capacity.
The Group recently undertook an on-point high-end renovation, incorporating further restaurant seating, ranging a mix of high and low tables, and luxurious banquettes.
The lease in place on Topikos is for another 24 years, and the business currently reports annual revenue of around $8 million.
Point Group is the former Icebergs Group, holding a suite of well-known operations around Sydney, such as the Dolphin and Hotel Harry in Surry Hills, the new Shell House in the CBD, and soon the f&b contract at Fort Denison, yet to be announced.
Marketing suggests the key opportunity at Bondi is around presence, in a precinct with global notoriety and few competitors. No price guidance has been issued for the business.
A campaign is being managed by HTL Property’s Andrew Jolliffe and Dan Dragicevich, who orchestrated Point Group’s exit from the nearby Icebergs, and still recall “fondly” the level of interest it attracted.
“Bondi Beach is a world famous tourism and entertainment precinct, and the opportunity to take up residency with front row seats on its golden sands is frankly an opportunity that seldom knocks,” suggests Jolliffe.
Sale of the leasehold interest in Topikos at Bondi is via Expressions of Interest, closing Wednesday, 31 May.
