The leasehold interest in the Sly Fox Hotel in Enmore has been sold to prominent Inner-West publican, Ged Dore.
The popular Dore is no stranger to the area having recently taken the keys of the Henson Park Hotel and having purchased the nearby Salisbury Hotel in Stanmore in a deal managed by HTL Property for $10.75million.
Dore, who also has links with the successfully traded Four Pines Brewery, has operated some of Sydney’s largest and most successful hotels including both Manly’s Hotel Steyne and Bondi’s Beach Road Hotel.
HTL Property’s Sam Handy and Dan Dragicevich exclusively negotiated the off-market transaction on behalf of prolific commercial property investor Shadd Danesi. Danesi, who owns an impressive portfolio of Sydney commercial property, including Darlinghurst’s famed ARQ nightclub, has steadily sold down his other hotel interests including the Imperial Hotel (Erskineville) and Mr. Mary’s (Redfern).
Situated at the top of Enmore Road, the well-known Sly Fox Hotel features 15 poker machines, extended trading hours and 13 accommodation rooms.
Industry stalwart Dore is said to be considering activating a low-energy community focused pub operation, as opposed to what was previously offered at the active hotel.
“Our Vendor’s brief was to secure him a quality tenant which would be able to build a sustainable business model in concert with both the local community, and the framework required by Council’ advised HTL Property Director, Sam Handy.
“Given Ged’s experience and pedigree with community based hospitality activations, we feel satisfied that we’ve delivered upon the required brief” added Handy.
“This sale remains consistent with a recent market segment shift towards high cashflow leaseholds, which are often sold on more attractive yield multiples than the more traditional freehold going concern asset model” concluded HTL Property National Pubs Director, Dan Dragicevich.
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