Redcape picks up historic Sydney pub
MA Financial-backed Redcape Hospitality has acquired Woolloomooloo’s Frisco Hotel from Queensland-based Sun Group.
The heritage-listed three level hotel set it back about $15 million.
A revamp is planned.
The deal comes six weeks since we reported Redcape, for the Hotel Fund, bought The Entrance Social Club on the Central Coast from the Thomas family.
That outlay was $36m.
Late last year it snapped up the c1865 Plough Inn in South Brisbane’s South Bank.
That 89 year leasehold cost c$40m.
The seller was SEQ Hospitality, part backed by Sydney Roosters chairman Nick Politis (continues below).
Frisco Hotel
On 304 square metres at the corner of Dowling and Nesbitt streets, also exposed to McElhone, the Frisco was built in 1856 to service nearby wharf workers.
It contains a bar, bistro and gaming room with TAB facilities and 17 electronic gambling machines. There are also six guest suites.
Sun Group, controlled by Pau Xu Via Queensland Hotel Investments, paid the Micola family $10m for the asset in 2019.
It failed to sell following a public campaign in 2022.
HTL Property’s Sam Handy and Andrew Jolliffe brokered the latest deal off-market.
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