Historic Firehouse Hotel sold
Simon Meers has snapped up North Sydney’s Firehouse Hotel.
The freehold going concern for 86 Walker Street set the executive’s Sonnel Hospitality back c$35 million, sources say.
Mark Barry was the seller.
Also the operator, he converted the c1895 fire station into a pub in 2007.
A major renovation retaining ornate features was completed four years ago.
HTL Property’s Andrew Jolliffe and Dan Dragicevich were the agents – it is the first time the property was for public sale in over 40 years.
Fire station turned pub
Mr Meers it the son of Sydney Lord Mayor and lawyer turned property investor, Nelson, who died in 2022.
Formerly known known as Nelson Meers Group, the company made headlines not long earlier when it paid $160m – a record for an Australian pub – for Casula’s Crossroads.
The Firehouse contains a bar and bistro over two levels with a first floor terrace.
The bar pours beer from 30 taps.
Also with a gaming room containing 28 electronic gambling machines, and with Little Spring St frontage, it is licensed to trade until 3am.
There is limited development upside though – Mr Barry selling the airspace in 2018 to Billbergia which has since developed a 50 storey apartment building and Citadines Hotel – North Sydney’s tallest building, known as 88 Walker St.
“Few hotels demonstrate such a thoughtful and comprehensive approach to design, presentation, and customer experience accordingly, the Fire House Hotel enjoys a deserved reputation as one of the best in its class Australia wide” Mr Jolliffe said upon listing the property last month.
Mr Dragicevich added “the remarkable revitalisation of North Sydney — highlighted by the recent opening of the Victoria Cross Metro Rail Station — has catalysed significant growth in both corporate and residential populations within the harbourside suburb”.
Harvest banks $50m
Also this month, Harvest Hotels sold two assets, banking a total of just over $50 million.
In South Australia, the Aussie Inn and a bottle shop at 108 Main South Road, Hackham, about 30 kilometres south of Adelaide, was divested after three years.
In New South Wales meanwhile, the Milestoe Hotel at Dubbo also traded, in a deal to settle December.
JLL’s Kate MacDonald, Greg Jeloudev and Ben McDonald were the agents.
TJ Board’s Terry Board brokered the Aussie Inn deal.
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