Sydney’s star of Surry Hills, the iconic Hotel Hollywood, has been listed for sale for the first time in 42 years.
The four-storey Art Deco Hollywood stands sentry on the corner of Foster and Hunt Streets in the bustling city-fringe precinct, offering a blank script for an incoming operator.
Through the old-school mustard tiles coating street level, the pub offers a public bar, gaming room with 10 machines, although only five are currently on the floor, and a 3am liquor licence.
The first floor comprises a manager’s residence, which has previously been used as a trading area, with a bar and kitchen, and the second floor finds nine well-appointed accommodation rooms.
There is a rooftop space, predicted to be activated by an incoming operator, accessible via a central stairwell, providing views of the CBD and Surry Hills.
Subject to relevant planning guidelines, the property provides future redevelopment potential, holding B4 Mixed-Use zoning, 18-metre height approval and 3:1 FSR. It resides within a world-class dining precinct and stands to benefit from investment in the area, demonstrated in the internationally acclaimed Ace Hotels Group soon opening its first Australian accommodation property nearby.
The Hollywood was owned and operated for 42 years by industry pioneer and former starlet Doris Goddard, who dazzled from the silver screen as an actress and cabaret singer before becoming famous for being one of only a handful of female Sydney publicans in the 70s.
From 2014, Goddard was one of the most active and fierce protesters against Sydney’s lockout laws. In July 2019 she passed away, less than a year shy of the laws being repealed.
The estate of the late Doris Goddard has put the landmark asset up for grabs in what could be one of Sydney’s most keenly contested pub sales this year.
It is trading only four days per week, under reduced hours, and industry sources suggest it could fetch $10 million.
The family has engaged HTL Property’s Andrew Jolliffe, Sam Handy and Blake Edwards to manage divestment of the rare city-fringe hotel and development opportunity, set to appeal to a broad market.
“We consequently expect intense interest from a number of competing buyer profiles, including hoteliers, restaurateurs, investors and developers alike,” suggests Handy.
“There’s longevity and an unmistakable magnetism that exists and transcends asset classes with some commercial property examples, and in this circumstance, the Hotel Hollywood enjoys this mantle and will be addressed by this most active of marketplaces accordingly,” added Jolliffe.
The freehold going concern of the Hotel Hollywood is being sold via an Expressions of Interest campaign, concluding Thursday, 20 May.
