The freehold of the former Town & Country Hotel in Sydney’s St Peters is being sold as a vacant possession, with ongoing accommodation rental income.
Built in 1821, the iconic pub occupies a 730sqm lot on the prime corner of Unwins Bridge Road and Campbell Street, opposite popular local brewer Chuck & Sons. It sees heavy pedestrian and vehicular traffic courtesy of direct access to the M8 and WestConnex, around three kilometres from Sydney Airport, and stands to benefit from the upcoming Marrickville Metro Station.
Long known as a bastion of live music, the T&C truly rose to fame on the lyrical stylings of Slim Dusty, who wrote his famous song Duncan in a nod to the publican at the time, Duncan Urquart. Released in 1980, the song went to number one on the Australian charts, becoming Dusty’s second-biggest hit after the Pub with No Beer.
Decades later, tenant Brandon Lynch fell on hard times and in 2016 posted the ‘Schools Out Show’, bringing Alice Cooper in to say goodbye, as the old girl would be “closing tonight forever”.
Forever proved short-lived, as Helen Filips launched a new operation in 2017. But after quite a few more years hosting bands, and navigating disruptions that included the construction of WestConnex and COVID, the hotel closed again mid-2023.
In the past two years it has had two more temporary operators, and the building still holds its hotel liquor licence. Street level is a blank canvas, equipped with a rear beer garden and outdoor seating area.
Upstairs there are 18 semi-refurbished and fully tenanted boarding rooms, spanning 360sqm, with a separate street entrance. The short-stay tenants generate approximately $5K rental income weekly.
Vendor on the property is the private family-owned Benima P/L, which acquired it from Metro Commercial. Currently working on other ventures, the family opted to list the hotel.
A row of adjacent terraces are being sold, seeing two already fetch north of $2 million, and sources suggest the T&C is likely to fetch sale price in the mid-$5 million range.
It is being marketed by Belle Property Commercial’s Rocco Tripodi, in conjunction with Highland Commercial’s Peter Seeto, who believe it is ‘ready for transformation’ and note the “consistent income” generated by the accommodation.
“The sale of the Town & Country Hotel St Peters represents a great opportunity for a new entrant to the pub market amongst a very sophisticated artisan and independent brewing precinct,” says Seeto.
The vacant freehold will go to auction Tuesday, 8 April, at 50 Margaret Street, Sydney.
