Fraser Short’s Sydney Collective has sold Windsor’s Fitzroy Hotel to the growing Don Hodge Group, after owning the well-known pub for only about a year.
Short teamed up late 2021 with Todd Jacques, keeper of the Sunnyside Hotel in Broadmeadow, to buy the Fitzroy freehold going concern in Sydney’s north-west, paying around $6 million.
The partnership has now sold it at what was said to be “an attractive premium to book value” close to price guidance, which sources say was $8 million.
Short spoke of recent “attractive offers” to sell again when he listed the asset in June of this year, and notes he is conscious of opportunities to “expand and contract” the portfolio.
“Good portfolio management means we are always looking to transact, one way or another, if a compelling deal presents itself to us,” offered the Sydney Collective principle.
The Fitzroy holds a strategic 1,391sqm block in Windsor’s main commercial and retail precinct, close to a Woolworths-anchored shopping centre, with 16 EGMs and a 3am liquor licence.
It is understood to have been bought by Don Hodge group, which already holds properties at Belmont and Warners Bay, and more recently picked up the big Lake Macquarie Tavern, in April.
Short bought the Fitzroy and also the Tate Hotel at the same time, through HTL Property, and entertained the agency’s engagement again.
“We’ve been fortunate to deal on a number of the significant pub transactions in north-west Sydney, including the record sale of the Vineyard Hotel last year,” notes HTL’s Blake Edwards, who sold the property with colleague Sam Handy.
“Hence, we maintain an active relationship with the market in that and other areas.”
