HTL Property Sells Two Harbourside Suburb Sydney Hotels

In a continuation to the theme of favourable conditions for traditional hotel transactions nationally, leading specialist agency HTL Property today announces the further successful sale of Balmain’s iconic Exchange Hotel, in addition to Woolloomooloo’s storied Frisco Hotel.

Both sales by agents Sam Handy and Andrew Jolliffe represent long-time, ornate hospitality offerings in historical Sydney Harbour edged suburbs; and in doing so, informs the market with respect to a fertile transactional landscape for the asset class.

The sale of Balmain’s multi-storey Exchange Hotel followed an on-market publicly advertised campaign on behalf of Receivers & Managers, McGrathNicol; whereas the acquisition of The Frisco Hotel was an off-market trade to MA Financial’s Redcape Hospitality.

“Early life in Sydney centred around public houses (pubs) in populous harbourside suburbs such as Balmain and Woolloomooloo; and in doing so, created the physical and social architecture around which communities sought to orbit” advised HTL Property CEO, Andrew Jolliffe.

“As such, investors and patrons remain in equal parts drawn by the magnetism of both the robust trading history, and the proud physical permanence of hotels such as the Exchange and Frisco respectively” Jolliffe added.

“As evidenced by the recent sales of both the Courthouse Hotel in Newtown and the White Cockatoo in Petersham, investor appetite for city-fringe hospitality assets has been exceptionally strong in the first half of the year” Handy concluded.

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