As city-fringe pubs continue to regain momentum, craft beer mecca the Royal Albert Hotel of Surry Hills is being offered as a re-stapled freehold going concern.
The long-term freehold owners have collaborated with the leaseholder and are offering both the freehold and business combined.
Set on the bustling corner of Commonwealth and Reservoir Streets positions the Royal Albert between the Campbell and Foveaux Street dining precincts, with culinary neighbours such as Fire Door, Chin Chin, Nomad and Poly restaurants.
The two-storey pub offers a welcoming traditional public bar famous for its crafty beer selection, with a midnight licence and gaming room with 12 machines. Marketing literature reports annual revenues north of $1.5 million.
“The Royal Albert Hotel is at the centre of Sydney’s craft beer revolution, and offers incoming purchasers the chance to tap into what is widely considered the fastest growing niche market in the hospitality industry,” offered HTL Property’s Blake Edwards.
Inner-city hotels continue to be highly sought after, but tightly held. Recent sales have included the Wayne Group taking Kings Cross’ O’Malley’s last July, the same month the Laundys went into the Woolpack in Redfern, and Universal Group buying Redfern’s Bat & Ball in February this year.
At the Royal Albert, the 211sqm site holds strong underlying value and development upside, given its B4 Mixed Use zoning, making it a compelling opportunity for a range of buyers, potentially as a leasehold tenant, passive investor or a group seeking to relocate the EGMs.
“Sydney’s inner-city and fringe CBD hotel market presents several strategic investment opportunities, all underpinned by valuable and malleable commercial land holdings adorned by historically robust hospitality business revenues,” furthered HTL’s Sam Handy.
Listing of the Royal Albert in Surry Hills closely follows that of the nearby Crown Hotel, in the second round of the Peak Invest administrator sell-down.
The freehold going concern of the Royal Albert Hotel is being sold via Expressions of Interest, closing Wednesday, 13 April.
