Windsor’s big, pink Fitzroy Hotel has been put to market as a freehold going concern, representing a strong trader with considerable upside potential in a Sydney growth corridor.
Incumbent operators Michelle and Craig Thomson took on the lease in 2017, following outgoing newcomers Mesh Hotels. The Thomsons negotiated terms and subsequently repositioned the business to suit the changing demographics.
Established circa 1852, the two-storey Fitzroy occupies a large 1,319sqm site in the heart of Windsor’s retail and commercial zone, with a 3am licence and diverse trading including 16 EGMs. Annual revenue is reported at around $1.8 million.
Looking to retire to their beach house on the Central Coast the Thomsons have joined with the private freehold owners to offer up the re-stapled asset.
Also available is an adjoining retail property, of 756sqm, affording an incoming operator opportunity to amalgamate and increase the size of the trading footprint.
Windsor and Richmond have seen multiple recent land releases for residential development, and the broader north-west growth corridor is slated for 250,000 new residents in the coming decade.
Interest in the region has seen veteran Peter Wynne buy into Richmond for $18 million at the Royal last July, and Ashton Waugh grab RG McGee’s for $6.5 million.
HTL Property’s Sam Handy and Blake Edwards have been engaged to steer the campaign, citing its inherent blue sky.
“There are very few entry-level large-format western Sydney freeholds at this price point that exhibit both the investment fundamentals as well as offering such clear and demonstrable upside levers, easily accessed via strategic capex,” notes Handy.
The vendors are seeking sale price of circa $6 million for the freehold and business.
The Fitzroy Hotel is being sold via Expressions of Interest, closing Thursday 26 March.
