Bells Hotel in Sydney’s harbourside suburb of Woolloomooloo has hit the market for the first time in almost 50 years, with a price guide of $15 million.
The pub, opposite the Woolloomooloo Finger Wharf, has been owned and operated by the Miles family since it opened in 1973.
Set on 339 square metres, the two-storey hotel has uninterrupted views of the harbour as well as Centrepoint Tower and the Sydney skyline.
An international sales campaign is being undertaken by selling agency HTL Property and the hotel will go to auction on November 15.
“Our clients are retiring from the industry … and are determined to ensure the hotel is bought by a party with the capacity and desire to amplify the history, prominence and opportunity so inherent in this offering,” HTL Property’s national director of pubs, Dan Dragicevich, said.
Earlier this week another popular eastern suburbs pub, The Bellevue Hotel, was sold to Royal Hotels, which is owned and operated by the Malouf family.
The Woollahra institution, which had at one stage been owned by John Singleton and his business partner ex-Qantas chief executive Geoff Dixon, had undergone a significant renovation following its aquisition by WDS Hotels in 2014.
“We’ve enjoyed a successful four years of ownership at this great hotel, and following complete renovation and repositioning, formed a decision to focus on our existing portfolio, which includes the Fortune of War Hotel, and in doing so to recycle the capital into another opportunity we’re considering,” WDS director Steven Speed said.
Earlier this year Paddington’s Four in Hand Hotel sold in an off-market transaction for about $7 million to the Sydney-based Good Beer company after months of speculation it would be sold off as a residential property.