Calligeros Hotel Group has listed an icon of Sydney’s eastern suburbs, the Bellevue Hotel, on the boundary of the affluent suburbs of Paddington and Woollahra.
The thumping two-storey pub – known locally as ‘The Bellie’ – has been on the 331sqm corner of Hargrave Street and Windsor Lane since 1880, originally owned by John and Brigitte Quigley.
It has developed an enviable reputation as being synonymous with eastern suburbs pub culture, previously owned over the past decade by Riversdale Group and the Malouf family’s Royal Hotels.
It benefits greatly from its proximity to sporting and event destinations Allianz Stadium, the SCG, the Hordern Pavilion and Royal Randwick Racecourse, which contributed to its acquisition in 2020 by sports fanatic Pete Calligeros, who was born and bred in the area.
Recently renovated and refurbished, the business generates annual revenue of $3.6 million across bar, foodservice, gaming and wagering, with upstairs areas able to be cordoned off for functions.
Motive for the purchase included potential in the business, the underlying land and building fundamentals, as well as a degree of succession planning; his children attended nearby schools and have since worked in the business.
The AHA NSW life member says a lot has changed and advanced in just six years.
“Paddington and Woollahra have undergone both a renaissance and resurgence with the completion and activation of the Moore Park Sports & Entertainment precinct,” says Calligeros.
“There would seldom be a weekend when there wouldn’t be a steady flow of punters passing through the pub.”
Blessed with three street frontages, the Bellevue is thought to offer future redevelopment potential (STCA) in an area where the underlying land and building value alone is likely north of $9 million.
Expert sources suggest the pub is likely to sell for around $10 million.
Recent and comparable city-fringe sales include the Town Hall Hotel in Balmain last year, sale of the Shakespeare Hotel in Surry Hills in late 2024, and JDA buying the freehold going concern of the Unicorn in Paddington earlier that year.
An Expressions of Interest sale process on the Bellevue is being managed by HTL Property’s Blake Edwards and Sam Handy, closing Thursday, 17 September.
“The Bellevue Hotel is truly one of Sydney’s hospitality ‘institutions’ – with a pedigree and reputation reflecting the best of the eastern suburbs’ pub culture and the Australian sporting landscape,” declares Edwards.
