Former Qantas CEO and Tourism Australia chair Geoff Dixon has listed the picturesque Blue’s Point Hotel in McMahon’s Point, by popular demand.
One of the first pubs built on Sydney’s north shore, the watering hole has been a local icon for over 160 years. Its present iteration is a two-storey red brick structure in the Art Deco style, occupying a 580sqm corner on Blue’s Point Rd.
“It has been a popular drinking place even prior to the opening of the Harbour Bridge, being there from the early 1860s, when the road led to the Sydney Harbour ferry crossing,” offered vendor, Geoff Dixon.
Nestled amongst multi-million-dollar residential real estate, the BPH is a regular haunt for nearby residents, day trippers over the Bridge, and office workers from the nearby North Sydney CBD.
After months of relative slumber, the pub real estate market is showing signs of reawakening, as seen in the Bayfields putting up the Light Brigade, and Dixon explains he too has had motive.
“We’ve thoroughly enjoyed our ownership of the Blue’s Point Hotel over the past decade, and have had numerous approaches from people interested in buying the pub, so we’ve decided the time is right to bring it to market formally.”
Marketing literature reports consistent revenue from food, beverage and accommodation, although perhaps the pub’s greatest potential for an incoming operator would be a repositioning of the f&b offering.
Additionally, the licence has five EGM entitlements attached, not in use, which provide further opportunity for a buyer, either through activation or their divestment.
Sources suggest the BPH will likely see sale price of around $10 million.
Agents anticipate interest from both local and interstate hoteliers recognising its historic significance, but also from commercial property investors attracted to the scale and quality of the site, on a major thoroughfare.
“The Blue’s Point Hotel is simply one of those pubs that everyone has a story or recollection about, and quite frankly pubs like it are irreplaceable,” comments HTL Property’s Andrew Jolliffe, marketing the asset with colleagues Sam Handy and Dan Dragicevich.
The freehold going concern of the Blue’s Point Hotel is being sold via Private Treaty.
