GUEST TAKES ON SURREY HOTEL REDFERN

In Property by Clyde MooneyLeave a Comment

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Redfern’s historic Surrey Hotel is in new hands, with regional operator Adrian Guest taking the keys at the opportunity-laden pub on the city fringe.

Built 1886 and continually licensed, the three-storey Surry is deemed both architecturally and historically significant by the State government. Designed in the Victorian Italianate style, it boasts an elaborate parapet and decorative cast iron balustrade around the first-floor balcony.

Set on a compact 368sqm block, it provides a main bar, pool room and gaming lounge with 17 EGMs with single bar operation, an outdoor smokers’ deck, and bottleshop, operating only limited hours.

There is a functional kitchen, not currently in use, and 12 pub-style accommodation rooms with long-term tenants plus a four-bedroom managers’ residence, with secure parking below ground.

Located on the corner of Cleveland and Elizabeth Streets, it will soon enjoy the fruits of the long-awaited light rail line, opening on its doorstep.

The same private owner has operated it the bulk of the past 25 years, and in May entertained selling the freehold going concern or a lease into the pub, signing Knight Frank’s Mike Wheatley and Kate MacDonald – now with CBRE – to market the options and opportunity.

In 2018 Adrian Guest divested the freehold going concern of his elegant Robertson Inn in the Southern Highlands.

Ready to take on a city operation, he has secured the new lease at the Surrey and says he ready to “unlock” its potential.

“I’m looking forward to joining the Redfern-Surry Hills pub community,” he told PubTIC.

“It needs some refurbishment, which we will be getting on with quickly, but we think with a little TLC The Surrey can really add to the already outstanding pub offerings in the area.”

The agents report no shortage of enquiries on the property, and a freehold owner pleased with the result.

“We experienced tremendous interest for this leasehold hotel opportunity given its prominent, inner-city location and gaming opportunity,” reports Wheatley.

“We’re confident in Adrian’s ability to unlock the potential of this site. Our vendor operated the hotel for almost 25 years, so a fresh perspective will certainly bring about some positive results,” added MacDonald.  

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