First Pub in North Sydney CBD Sold in 40 Years

In only a handful of days following the leading national brokerage firm’s announced sale of the record regional pub transaction in the form of Griffith’s Gem Hotel, HTL Property today proudly announces the successful sale of North Sydney’s stunning Fire House Hotel.

Following an on market sale process exclusively managed by Andrew Jolliffe and Dan Dragicevich, the material transaction records the first freehold going concern hotel sale in the North Sydney CBD precinct in more than 40 years.

Immaculately renovated by long term publican Mark Barry, the two storey property has been acquired by Sonnel Hospitality; marking another significant step in the highly regarded hospitality company’s expansion and vision to create game changing in-venue experiences.

Owned by respected hotelier Mark Barry, the hugely popular venue is situated in the very epicentre of the wholly reinvigorated North Sydney business core, highlighted by recently completed macro developments including the Victoria Cross Metro Station, 242 room Citadel Hotel next door at 88 Walker St, and both the adjacent 100 Mount St DEXUS development and the Channel 9 anchored 1 Denison St development at the hotel’s back door.

“My family has thoroughly enjoyed its business connection with the North Sydney CBD spanning in excess of 30 years, and feel entirely confident the exceptional Sonnel Hospitality team will ensure the Fire House Hotel’s fine legacy is only further emboldened in the decades to come” advised Vendor, Mark Barry.

“Unsurprisingly, given the extraordinary aesthetics and proximity promoted by the Fire House Hotel, the sale process extracted an abnormally large level of interest in acquiring the generational property” advised HTL Property’s National Director, Dan Dragicevich.

Together with Sonnel Hospitality’s significant redevelopment plans at its Ermington Hotel, Crossroads Hotel, Ashfield Hotel and New Victoria Tavern, this most recent acquisition serves to reinforce the group’s dedication to the hospitality landscape and shaping vibrant community destinations.

“In terms of a marker for how the asset class is performing in Sydney currently, and with regard investor sentiment, this sale sets both a precedent and a salient reminder of the unsatisfied investor depth for AAA grade hospitality property” concluded HTL Property’s Managing Director, Andrew Jolliffe.

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