July 25, 2024


Full Of Eastern Travel

Historic inner-city Sydney hotel sells for $22.5m

The Lord Roberts Hotel in Darlinghurst has been bought for the very first time in above a century, subsequent an expressions of interest campaign by Savills estate agency.

Situated on a corner plot at the intersection of Stanley and Riley Streets, the ‘Lord Bob’ is observed near to the two the Sydney CBD, and the lively entertainment district of Oxford Street.

The lodge was sold for $22.5m on behalf of Sue Cameron to Adam Macfarlane, a foreign currency trade trader who has a short while ago returned to Australia. Savill agents Nick Lower, Selin Ince and Nick Butler brokered the offer.

Butler, who is Savills’ Director of Inns, believes the sale suggests the on-going health and fitness of the investment market place for inner-town pubs.  

“This sale displays the power of the asset course, with city fringe hotels acquiring savored a measurable bounce again into rewarding investing post-pandemic. The precinct is established for important financial investment in growth with the Lord Roberts at the extremely epicentre of arranging proposals and homes beneath alternative,” Butler said.

“The new owner is a effective forex trader and ex-pat who has returned to Australia and sees the growth possible in the hotel asset course. We comprehend he strategies to undertake slight renovations to the pub to keep its historic character and attraction.”

The Lord Roberts occupies a website of 259 sq. metres and is distribute about 3 storeys. The resort attributes ‘several restaurant, lounge and bar areas’ along with balconies, a pool place and beer garden.

Savills’ Point out Director of Resorts, Reduce, said there was a sturdy level of competition among the would-be customers of the hotel.

“Inner-metropolis pubs continue to be tightly held, and The Lord Roberts is preferably situated suitable following to the CBD, just minutes from the most leading amenity the Japanese Suburbs has to offer you. The pub has a truly exceptional, large publicity locale with large visibility to the affluent catchment of the Japanese Suburbs,” Lessen stated.

Although Ince, Senior Government for Motels NSW and Victoria, observed the historic character of the 151-year-aged Lord Roberts, indicating: “The Lord Roberts is a correct generational asset and hasn’t been supplied for sale in far more than 100 several years.”

“In addition to the preferred pub, it has extensive-phrase potential as a sizeable CBD fringe landholding with freehold assets on a single of Sydney’s most legendary thoroughfares,” Ince concluded.