Fairfax family sell suburban Sydney pub
The Fairfax family has sold a south Sydney hotel held 27 years.
The Regent Hotel at Kingsford (pictured, top) collected $40 million from Thomas Hotels.
On 2864 square metres at 416-422 Anzac Parade, on the corner of Middle Street, it has been operated by Solotel.
Licensed to trade 24 hours with a gaming room with 30 electronic gambling machines, weekly income is c$145,000.
Colliers’ Guillaume Volz and Eugene White with JLL’s John Musca and Ben McDonald were the agents.
The pub and a small neighbouring block were listed for sale in February with c$100m price hopes.
Zoned E2 Commercial Centre, with a 60 metre height limit and 5:1 floor space ratio, a 17,500 sqm product could have been delivered.
A scheme marketed for the amalgamation was for a 400-plus bed hospital (continues below).
That parcel, facing Anzac Pde, is still for sale.
Another Sydney hotel sale
The Regent Hotel deal comes four days since we reported Australian Venue Co, it is speculated in partnership with Charter Hall, acquired the freehold going concern to Petersham’s White Cockatoo Hotel, for $17m.
Ray Reilly was that seller, after a decade and a renovation.
JLL was again the agency; Kate Macdonald, brokering an off-market deal after a failed campaign with another agency last year.
Also this month, Justin Hemmes is speculated to have outlaid more than $15m for an ex-RSL turned Tattersalls Club neighbouring properties he owns including Hotel CBD, in York St.
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