A Queensland-based hotel investor has secured Woolloomooloo’s heritage-listed Frisco Hotel from the Micola family.
The Frisco occupies a tidy 304sqm corner lot in Sydney’s historic wharf district, built back in 1856 to serve the public house needs of the local workers.
Its three storeys offer a single-service public bar, with TAB and 17 EGMs, beneath a restaurant and kitchen on the first level, and six accommodation rooms on the top floor.
Originally leaseholders, the Micola family’s Preskel P/L later exercised an option to buy the freehold. The group also operates the Bangor Tavern in Sydney’s south, but eyeing alternative investments in marinas and development listed the Frisco in February.
The old Georgian-style pub has now been taken on by a hotel investor who requested PubTIC not name him at this stage. His growing operation has previously been confined to hotels in Queensland, most recently counting the $10 million purchase of the Saltwater Creek Hotel from Steven Shoobridge’s Star Hotels.
The Frisco Hotel is reported to have transacted for a similar price, having previously attracted an offer from John Singleton, following his missing the purchase of the nearby Bells Hotel to Arthur Laundy.
No further information was available on plans for the Frisco, nor details on its operation.