The Albany Hotel, thought to be the oldest hotel in Western Australia, is for sale for the first time in over three decades.
Albany is WA’s oldest European settlement, found at the southern tip of Australia’s largest state, around 420 kilometres south-east of Perth on the shores of Shoal Bay, letting to the Indian Ocean.
The town’s pub is believed to have opened in 1935, and the heritage-listed building that still stands today was constructed in 1852. For a time it was known as the Horse and Groom, before returning to the original moniker in 1892.
Some famous guests have graced its floors, including former US president Herbert Hoover.
It occupies a 957sqm lot, with floor area of 822sqm providing public bar, bar-dining room, lounge-dining room, TAB, commercial kitchen, alfresco areas at the front and rear, and ten accommodation rooms with shared facilities and a guest lounge, plus a manager’s apartment.
Many of the public rooms are adorned with the likes of original fireplaces, feature joinery and pressed tin bars. There is space at the rear for live performances, and/or a boutique brewery.
Coupled with the sale, there is also another 310sqm block behind the Hotel, on a separate title, which would suit construction of an accommodation tower (STCA).
Russell Poliwka bought the historic pub in 1990, through his investment trust First Western Realty.
He also holds the title and is licensee at the Nannup Hotel, closer to where he lives in Perth, and where he’s looking to invest in an upgrade.
Poliwka says his Albany property returns about $160k annual income, but the current tenant’s lease option is almost done and he too is interested in selling up.
Now in his 70s, Poliwka explains he’s looking to scale back on property assets, and is offering the Albany as a passive freehold for $3.1 million – or as a vacant freehold going concern.
Located in the middle of main drag York St, he suggests the two sites represent the “pinnacle of prime location” in Albany.
“It’s an historic pub – it’s got so much ambience.
“It performs best with a nice kitchen and good food … but it needs money.”
Having operated it in years gone by, the vendor admits it is in “tired” condition, but sees that as the drawcard and hopes someone will pick up the baton.
“If I was to buy, I’d want it to be like it is. I’d strip it out and bring it back to what it was.
“It would be a great opportunity for someone a lot younger, with a few sheckles in their pocket.
“It’s not the fact that it’s not giving me a return, it’s because I want to see it go back to where it used to be.”
