Operator trumps developers for $70m Sydney pub
JDA Collective has quietly bought a Sydney pub from the Yang family which held over 40 years.
The freehold going concern for the Bexley North Hotel cost the Feros family backed hospitality group $70 million.
On 4234 square metres opposite Bexley North train station and a 150-bay council car park, it contains a bar, licensed to trade until 4am, bistro, gaming room with 30 electronic gambling machines and 18 accommodation suites.
Also with a drive through bottle shop – with a 24 hour liquor licence – annual income was marketed as just over $11m.
Almost half of the trading footprint is dormant.
JLL’s Ben McDonald and Kate Macdonald brokered the off-market deal for Michael Yang.
Operator trumps developer
Zoned Mixed Use at 187 Slade Road, in the suburb’s retail centre, the property failed to sell during a public marketing campaign three years ago, when it was marketed for its significant residential development upside, possibly including a lower level hospitality space (continues below).
In that campaign, via different agencies, the asset’s annual income was also marketed as exceeding $11.5m
The buyer last month rebranded from JDA Hotels.
Its Sydney portfolio also includes the General Gordon Hotel at Sydenham, Peakhurst Hotel, Padstow Park Hotel and, in the CBD, Charlie Chan’s.
Outside the metropolitan area, it also operates hotels at Albury-Wodonga and, in Queensland, on the Gold Coast.
Bexley North is about 13 kilometres south west of the CBD.
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