JLL Hotels & Hospitality Group, in conjunction with Knight Frank are delighted to be offering the Bar Broadway Hotel to market for the first time in 20 years.

Previously known as Sutherlands Hotel and situated in the core of the gargantuan southern CBD redefining Central Park development, Sydney's ‘Silicon Valley’, Chinatown, multiple universities and only metres from Central Station, Sydney's largest train station, the gateway asset is widely considered to be one of the most strategically located hotels in Sydney.

Offering a 24-hour hotel licence with highly sought 3-hour gaming shutdown, 28 electronic gaming machines, bar and two levels with 36 accommodation beds, Bar Broadway is uniquely positioned to service the burgeoning needs of the growing immediate commercial, retail, student and residential catchments of the Central Park/Haymarket precinct. In addition, there is an activated DA for two additional upper floors bringing the beds inventory to 63, completely underwritten by the burgeoning $40 billion international student industry and the demand for short stay hotel rooms in this emergent commercial and tourist location.

The long-term freehold and leasehold interests owned by unrelated parties, have been re-stapled to provide the exciting opportunity to place a flag in the ground at the very heart of what is undoubtedly Sydney's fastest growing city precinct. Atlassian, Frasers and Dexus are all in various stages of commencing three new towers literally metres from the hotel (Central Place) delivering an additional 268,000sqm of GFA ultimately housing over 16,000 additional permanent employees and with circa 4,000 construction workers on-site for up to 5 years during construction.

JLL Hotels Managing Director John Musca suggested, “I can't recall the last time a hotel with such explosive and broad-based business drivers was offered to market, and with all the essential foundation attributes of 28 gaming machines, 24-hour licence with limited shutdown, and a substantial rooms component. This asset will attract extensive interest from astute hoteliers of all profiles nationally.”

The asset comes to market at a time when the Sydney hotel market continues to demonstrate high levels of liquidity with over $1 billion of pub hotel transactions being consummated in the past 12 months and the capital appetite unrelenting for the sector.

“The recent sales of the nearby Crown Hotel, Courthouse Hotel and Kinselas Hotel for an average yield of 5%, none of which had comparable business catchments to Bar Broadway, provide an insight into the quality of this opportunity”, said Mike Wheatley, Director Knight Frank.

The hotel is expected to attract a circa $45 million outcome, with Expressions of Interest closing Thursday 30th June.

For more information contact the agents via the contact form below.