The Stanford family continues its big-ticket divestment, listing its prized Carousel Inn, in north-western Sydney.
Listing of the Carousel follows the family’s 2021 record sale last week of the Vineyard Hotel for $70 million. The Stanfords also still hold the keys at the Riverstone Sportmans Hotel.
Carousel Inn resides on a prominent corner of arterial Woodstock Ave, on a desirable 17,000sqm lot within a large suburban catchment. It offers public bar, bistro, gaming room with 30 machines, function space, bottleshop, parking for 250 cars, and a 3am licence.
The pub was once ranked Top50 on the Liquor & Gaming list of NSW venues. It has fallen in recent years, but is still counted in the Top200.
Its multiple revenue streams produce circa $200k weekly takings.
HTL Property’s Dan Dragicevich and Andrew Jolliffe have been engaged to market the asset, which is looking to offers north of $50 million.
Sale of the Vineyard Hotel spoke to a “new benchmark” in both pricing and yield, says Jolliffe, noting the family’s Carousel is one of the less than 10 per cent of Top200 pubs held by individual operators.
Dragicevich suggests it is likely one of the top five pubs on which he has fielded offers to purchase – coming to market in the midst of a reported half-a-billion dollars in Vineyard underbidder capital left freshly unsatisfied.
“The Carousel Inn has been one of the most enquired about metropolitan hotels over the last decade, and for very good reason.”
The Carousel Inn Hotel is being sold via Expressions of Interest, closing Wednesday, 10 November.
