Bank turned pub sells off-market
A bank-turned-pub at a prominent corner in Sydney’s inner-south has sold off-market.
The freehold going concern for the Regent Sydney at 56-58 Regent Street, Redfern, traded for $19 million.
The vendor paid $6.8m in 2013.
Then, the property was trading as the Railz on Regent.
For decades prior to 2000 it was owned by Westpac and occupied as a Bank of NSW branch.
Regent Sydney
On 323 square metres at the south-west corner of Redfern St, the Regent Sydney holds development upside – a 2023 planning application proposing an 18-storey mixed-use building with a two-storey hotel podium and apartments above (continues below).
The property neighbours Iglu Redfern, an 18-storey student accommodation complex with 370 beds, completed in 2017
The vendor renovated the pub – it includes a bar, bistro and gaming room with 25 electronic gambling machines.
It was represented for the sale by HTL Property and TBRE.
The buyer is an established operator
The deal comes a year since realestatesource.com.au reported Martin Short’s Welcome Hospitality and business partner Ben Shaw sold the Redfern Hotel at 106 George St after nine years, for c$20m.
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