Popular Surry Hills Hotel Sold

The slew of significant Sydney pub sales continues this week with the announcement by HTL Property that Momento Hospitality has purchased the Royal Albert Hotel in Surry Hills.

The sale is the group’s second inner city hotel acquisition and follows last week’s announcement of its acquisition of the Young family’s Friend in Hand Hotel in the Sydney suburb of Glebe.

The Royal Albert, a Surry Hills boozer well known as one of Sydney’s most credible craft beer haunts, is equally notable given it is part-owned by NRL legend and colourful media identity Bryan Fletcher. Fletcher has been a partner in the hotel over the last decade; with many media segments filmed in and around the premises.

“It’s been a great journey with that little pub, and as a consortium we’ve elected to pursue other capital deployment objectives at this juncture” opined Fletcher.

With the on-market sale process exclusively managed by leading agents Sam Handy and Blake Edwards of specialist firm HTL Property, the inner-city freehold hotel was put to market via a public EOI campaign, and which extracted offers from numerous market segments; including hoteliers, restaurateurs, investors and developers alike.

‘We’re delighted to have curated this outcome for our clients and following our recent sales of other notable inner city hotels such as the Friend in Hand Hotel (Glebe), Dry Dock Hotel (Balmain) and both the Hotel Hollywood and Bat and Ball Hotel (Surry Hills), we get the strong sense that the inner-city market will enjoy sustained investor interest for some time” commented HTL Property Director, Sam Handy.

Whilst not disclosing the successful sale price, HTL Property confirmed the price paid was consistent with market guidance provided by the agency over the course of the sale campaign.

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