Historical colonial charmer The Principal Bar & Restaurant is for sale, representing a classic local in a burgeoning Perth precinct.
The rare opportunity offers a one hundred percent freehold going concern turnkey business with both an established customer base and limited competition.
Located in the centre of Midland’s hospitality precinct, the venue sits on a 962sqm corner site, in part of Western Australia’s state-listed Old Midland Junction School heritage area.
The Principal can serve up to 445 patrons across its 470 square metres of ground floor and 160 of courtyards and beer garden.
Sitting at the entry point to the Swan Valley wine region, The Principal offers an investment opportunity in one of Perth’s fastest-growing suburban centres.
Its neighbours include the Midland Gate Shopping Centre as well as the St John of God Midland health campus, short-stay accommodation, government offices and educational facilities. It also sits adjacent to the imminent Metronet East redevelopment.
It is being marketed by JLL Hotels’ Sean Flynn and Ben McDonald, who speak of its potential.
“With Midland designated as a Strategic Metropolitan Centre and significant government investment in infrastructure, this heritage gem is positioned to benefit from sustained economic growth and increasing foot traffic,” Flynn says.
The sale is via Expressions of Interest, closing Wednesday, 18 June.
