The developer behind construction at the rear of the Petersham Inn has listed the passive investment as the business thrives.
The Petersham Inn is located just six kilometres west of the Sydney CBD, on two lots comprising 738sqm lettable area, on bustling Parramatta Road.
It is in front of a large residential development built and divested by the freehold owner, who has held the property for around 12 years.
Just over two years’ ago the freehold owner sold the lease on the undercooked Petersham Inn to a new tenant, who has reinvigorated the pub and found a strong niche for the precinct. The lease stipulated options for five five-year terms.
Now looking to sell the bricks and mortar, the freehold has been listed through Ray White Hotels’ Blake Edwards and Andrew Jolliffe.
“The tenant is kicking goals and is genuinely excited about their future at the venue, especially with proposed changes to Parramatta Road going forward,” notes Edwards.
The passive investment title includes the licence and around $1m in EGM entitlements, plus four car parking spaces, and currently draws $220k annual rent, less outgoings, with annual increases set to CPI.
“This asset is a great way for a passive investor to get a slice of the lucrative Sydney hotel market and secure nine gaming entitlements and a hotel licence.”
The Petersham Inn freehold will go to public auction Wednesday, 11 April, at the offices of Ray White, Level 17, 135 King Street, Sydney.
