Hobart's historic New Sydney Hotel hits the market
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Hobart's historic New Sydney Hotel hits the market
John Blacklow of Knight Frank is inviting expressions of interest for the leasehold of Hobart's historic New Sydney Hotel.
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Knight FrankThe New Sydney Hotel in Hobart.
A mainstay of Hobart hotel history is on the market for a new operator.
An expressions of interest campaign is underway for the leasehold of the New Sydney Hotel at 87 Bathurst Street in the city's CBD.
The building dates from the 1830s and was originally a private residence before first becoming licensed as a hotel in 1869 through its builder, Robert Wiggins.
The venue was known as the Builders Arms Hotel in the 1880’s and then the Sydney Hotel in 1887.
At a glance:
- Knight Frank has been appointed to conduct a sales campaign for the New Sydney Hotel at 87 Bathurst Street, Hobart, on behalf of Mr & Mrs G Lawrence.
- The venue includes a public bar, dining room, entertainment area, office, as well as a first-floor restaurant and bar.
- The expressions of interest campaign closes 4.00pm on Thursday 16 July 2020.
Source: Knight Frank
The present name was adopted in 1936.
This iconic hotel has had a long history of successful trading by prominent hoteliers such as John Best and Gary Lawrence, and more recently by Alastair Derham.
Selling agent John Blacklow of Knight Frank told WILLIAMS MEDIA its longevity was due to its location, quality live entertainment, and a bar which has wonderful character and ambience.
"The New Sydney Hotel has a huge following and is known for its character and ambience," he said.
"It's only a small pub but they manage to generate more than $3 million in turnover, so it does remarkably well."
The New Sydney Hotel includes a public bar, dining room, entertainment area, office and side laneway which showcases a number of murals.
The first floor contains a restaurant with bar, function and meeting rooms.
The popular Irish theme has resulted in business all year round for the venue, with trading not determined by seasonal factors.
Source: Knight Frank
Mr Blacklow said the ongoing popularity of this hotel meant trade was likely to bounce back quickly once the pandemic restrictions are relaxed.
"The terms are certainly advantageous to an incoming tenant," he said.
"A long lease is a great opportunity to continue its ongoing success."
The Expressions of Interest closes at 4.00pm on Thursday 16 July 2020.
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