Receivers sell another Jon Adgemis asset
Receivers have moved another asset held by Jon Adgemis’ Public Hospitality Group.
The c1888 Town Hall Hotel in Balmain – now vacant after being repurposed with office and retail – collected $9.5 million at auction today from a private investor with plans to restore it back to a hospitality asset.
Wexted Advisors’ Joseph Hayes and Christopher Johnson, acting for Latrobe Financial, forced the listing.
Mr Adgemis paid c$8m in 2017; three kilometres south west of Sydney’s CBD, it has recently been leased for a mixed-business with a massage parlour, pub, gym and bottle shop.
More than 10 years ago it was a hospitality venue with 12 electronic gambling machines and a 1am liquor licence.
The deal comes four months since we reported Millbrook Group, as mortgagee in possession, sold another Public Hospitality property, Darlinghurst’s c1850s Manor House, formerly Flinders Manor House.
Town Hall Hotel
On 443 square metres, zoned E1 Local Centre, the Balmain property, 366 Darling Street, also facing Montague and Little Darling, can accommodate several uses.
Over three floors, the building contains 742 sqm with upper level guest accommodation.
It was offered permit-ready for a conversion back to a pub, also with a restaurant. HTL Property’s Sam Handy and Andrew Jolliffe with Colliers’ James Cowan and Matthew Meynell were the agents.
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