South-west Sydney watering hole the Heathcote Hotel looks destined to close as a lease approaches expiry and its rich-lister owners look to sell off the freehold.
The freehold going concern was brought to market mid-2022 alongside the Engadine Tavern by business partners Tony Denny, Gavin Duffy and David Stone.
Set on 7,200sqm in the vibrant Heathcote West commercial area, it has been in operation since the 90s. It provided a single service ground floor bar, sports bar, kitchen and two dining spaces, gaming room with 15 PMEs, beer garden, accommodation rooms and drive-through bottleshop.
The Princes Highway site was also pitched as suitable for redevelopment, holding B2 zoning suited to mixed use options, and with concept plans for 130 units and 225 car spaces.
A tenant was paying over $350k annual rent, until their lease end, which is set to expire in November 2023.
Heathcote did not attract a buyer, and the vendors sold the hotel’s licences, meaning the pub will close in November.
It has returned to market as a sale of only the land and building, although the option remains for a purchaser to bring their own licence and reinstate it as a pub.
The sale campaign is through Highland Commercial Property’s Luke Barbuto, who says he is in discussions and close to a deal with a prospective buyer.
