Riverview Hotel Tempe to Market

HTL Property is pleased to announce the upcoming sale program for the Riverview Hotel in Tempe; situated in the Inner West Council area of Sydney.

The Riverview Hotel is being offered for sale via an Expression of Interest sale campaign closing 27 July 2023 at 12pm. The sale is being exclusively managed by expert HTL Property agents Blake Edwards and Sam Handy.

The freehold hotel is situated approximately 10km southwest of the CBD and is one of two pubs in the suburb of Tempe. The hotel asset is currently leased on a monthly tenancy and is producing $132,000 plus GST gross per annum; and is trading as Dancers Cabaret. The property features a popular sports bar, bistro, function rooms and 14 pub style accommodation rooms with DA approval for an additional 37 motel rooms on the site.

The lessee is on a month-to-month tenancy which provides flexibility to an incoming purchaser” commented HTL Property Director, Blake Edwards.

“There exists the option to negotiate a new lease, take over management of the asset; or to activate the accommodation DA and reposition the asset completely” Edwards continued.

The vendor is Tyche Private Equity Fund, which purchased the hotel asset in 2016 with plans to reposition the site to a full accommodation offering.

“We are continuing to see an acute shortage of on-market hotel opportunities and consequently, we expect a strong result from the marketing for this asset” concluded HTL Property Director, Sam Handy.

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