For the first time in its history and first public offering in the precinct in over 40 years, the striking Firehouse Hotel in North Sydney is being sold as a freehold going concern.
Constructed in 1895, the North Sydney fire station is a Victorian classic. It is suitably located in the heart of the suburb’s commercial, retail and hospitality zones, enjoying triple street frontage.
Publican Mark Barry has owned the building since 2001, overseeing its conversion in 2007 into a hotel spanning two levels of licensed trading area, including an expansive first-floor outdoor terrace. It boasts high-end interior finishes, multiple bars and gaming room with 28 EGMs, behind an ornate, heritage façade. Licensed until 3am, the hotel currently only trades until midnight.
It is mere metres from the new Metro Station, shuttling over 14K passengers daily, and surrounded by modern developments, such as the 252-room Citadines Hotel, and Nine Entertainment Co. headquarters.
Somewhat dwarfed by its neighbours, in 2018 Barry agreed to sell the airspace over the hotel to developer Billbergia, which built a $121 million 35-storey tower above and beside it, comprising 224 hotels rooms over 14 levels, five levels of facilities, eight floors of commercial offices, and a rooftop bar.
Barry remarked at the time that the development would help “maximise the potential” of the site.
“It’s great for the future of the place,” he said.
“The remarkable revitalisation of North Sydney — highlighted by the recent opening of the Victoria Cross Metro Rail Station — has catalysed significant growth in both corporate and residential populations within the harbourside suburb,” suggests HTL Property’s Dan Dragicevich, marketing the asset with fellow director Andrew Jolliffe.
Sale is via an Expressions of Interest process, closing Wednesday, 20 August, reportedly looking for north of $30 million, courtesy of its rare confluence of “position, prominence, providence and performance”.
“This legendary building commenced its life pouring water from firehoses in 1895, and now over 130 years later pours beer out of its 30 beer taps,” adds Jolliffe.
