Receivers and managers offer Gateway Kings Cross Hotel for sale by HTL
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Receivers and managers offer Gateway Kings Cross Hotel for sale by HTL
The Kings Cross O’Malley’s Hotel for sale has been listed just as the precinct’s former lock out laws are scrapped in an effort to revitalize the historical birthplace of Sydney’s night time economy. HTL Property Andrew Jolliffe Daniel Dragicevich and Sam Handy have been exclusively appointed under instructions from receivers and managers Morgan Kelly and Phil Quinlan of KPMG.
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HTL PropertyThe Kings Cross O’Malley’s Hotel for sale has been listed just as the precinct’s former lock out laws are scrapped in an effort to revitalize the historical birthplace of Sydney’s night time economy. HTL Property Andrew Jolliffe Daniel Dragicevich and Sam Handy have been exclusively appointed under instructions from receivers and managers Morgan Kelly and Phil Quinlan of KPMG.
The Kings Cross O’Malley’s Hotel for sale has been listed just as the precinct’s former lock out laws are scrapped in an effort to revitalize the historical birthplace of Sydney’s night time economy. HTL Property Andrew Jolliffe Daniel Dragicevich and Sam Handy have been exclusively appointed under instructions from receivers and managers Morgan Kelly and Phil Quinlan of KPMG.
The four storey hotel, prominently positioned on William Street and at the gateway to the Kings Cross entertainment precinct, is just metres from the iconic Coca-Cola sign.HTL Property’s Andrew Jolliffe, Daniel Dragicevich and Sam Handy have been exclusively appointed by KPMG to handle the sale; one which presents a multitude of both business and mixed-use development upside channels.The business offers a veritable blank canvas for an incoming operator featuring a 24 hour liquor licence with a valuable 3 hour weekend gaming shutdown and 15 gaming machines attached.In addition, there exists 15 well appointed accommodation rooms (most with ensuites) on the first and second floors; with scope for additional rooms to be added to the upper floors in order to cater for demand in the area, which has seen several recent DA approvals for backpacker accommodation.
The existing rooms on the top floor already enjoy World Class sweeping views of the Sydney CBD, Harbour Bridge, Opera House, Domain and Woolloomooloo Finger Wharf.
The site is prominently perched on an elevated corner site landholding, comprising three street frontages. The property holding offers future redevelopment potential, subject to the relevant planning approvals; and is underpinned by its existing 967 sqm GFA, 15m height approval, B4 Mixed-Use zoning and FSR 2:1.
Proximate growth and demand drivers within the immediate vicinity include the Holiday Inn (Potts Point), the Kings Cross Centre and active railway station, as well as the landmark Omnia Apartments development and adjacent Woolworths Shopping Centre.
“The O’Malley’s Hotel is a very rare city fringe freehold exhibiting all the key fundamentals astute purchasers search for in hotel opportunities - arterial, corner junction positioning, late trading flexibility; as well as substantial accommodation and gaming inventory” advised HTL Property’s National Pubs Director Dan Dragicevich.“Accordingly, we expect strong interest from a range of hospitality operational profiles, property investors and developers alike” Dragicevich added.
O’Malley’s Hotel is being exclusively sold by HTL Property via EOI concluding Thursday 8th April 2021.
To request an Information Memorandum please email one of the marketing agents Andrew Jolliffe Daniel Dragicevich and Sam Handy via the contact forms below.
