After the successful introduction of a new tenant, the freehold of the Petersham Hotel has burst onto a market prowled by investors.
Located just a few kilometres from Sydney’s CBD, the Hotel possess a coveted 3am licence, bistro, nine EGMs and prominent position on bustling Parramatta Road.
It is occupied by operators of the nearby Riverview Hotel Tempe, known as the ‘Pin-up Pub’, and a similar offering – with hints of sports bar – is in store for the inner-west Petersham venue.
The vendor began a campaign to divest both the freehold and leasehold, resulting in the new operators. The process now continues to find a new owner for the bricks and mortar.
The freehold is being marketed by Ray White’s Blake Edwards, who told PubTIC the appetite for this type of asset is extremely high.
“It’s become clear that in this environment, properties such as this – in close proximity to Newtown and the CBD, with a late-trading licence and established rental income – are extremely popular.”
Edwards says the vendor receives annual rental income of $220,000 (+gst) plus outgoings, with a 5 x 5 year lease term. The strata title consists of two lots, totalling 792 m².
The Hotel is being offered via Private Treaty.