The DeAngelis family has listed the blooming Raby Rose Hotel and shopping centre in Sydney’s booming south-west corridor, as they prepare for their next endeavours.
Raby Rose – formerly the Raby Tavern – is a single-storey premise forming part of a small retail shopping centre on 8,229sqm, and the only pub in the precinct, enjoying a virtual monopoly across four suburbs and local catchment of over 25,000 residents.
The property asset incorporates the Raby Rose Hotel, with full hotel licence and 28 EGM licences, as well as the 11-tenancy arcade-style Raby Shopping Centre, servicing the local community and driving foot traffic for the Hotel.
DeAngelis Hotels (DHI) bought the property in late 2019 from the Walker family, who had owned it for 16 years.
Since buying it they have worked to reposition the venue, spending circa $5 million on a complete internal reconfiguration, expanding the bistro and alfresco areas and activating a basement level car park. The changes have reportedly been “warmly received” by locals, seeing departmental revenue increase more than 50 per cent.
“Ownership of The Raby Rose has been a wholly prosperous experience for our family, and we are proud of what we have achieved with the renovation and reconfiguration,” says DHI Director, Pete DeAngelis.
“As such, we feel it’s the right time to refocus our energy on the soon to be opened Edmondson Park Hotel, and consequently remain continually on the lookout for additional greenfield opportunities.”
Following a substantial overhaul, the asset comes to market offering further blue sky by means of more selective expansion.
“As some of the retail leases expire there is clear upside for an incoming purchaser to increase the licensed trading footprint, taking advantage of the expansive under roof capacity of the property,” explained HTL Property’s Dan Dragicevich, marketing the Hotel with colleague Andrew Jolliffe.
Raby is located in Sydney’s south-west, around 50 kilometres from the CBD, amongst growth corridor precincts such as Campbelltown and Narellan, and the Hotel and shopping centre are likely to fetch sale price north of $50 million.
HTL is buoyant about the economic state of pub real estate, following its top-dollar sale of Bondi Junction’s Tea Gardens to the Ryan family.
“We are firmly on the record attesting to the renewed and demonstrable uptick in investor sentiment within the NSW pubs market,” adds Jolliffe.
Expressions of Interest on the freehold going concern of the Raby Rose and shopping centre close Thursday, 10 October.
