The Royal Albert Hotel in Sydney’s Surry Hills is on the market less than a year since it was named Beer & Brewer‘s Best Beer Venue in Australia.
After purchasing the 100-year-old pub on Commonwealth St a little over 10 years ago with a consortium of owners the Royal Albert’s licensee and co-owner Mick Bain (pictured) said in a statement shared with Beer & Brewer: “We had an amazing offer to team up with the landlord for sale and the market is white hot with no stock. We are not testing the market – we are definitely on the market”.
If it sells, Mick said he “hope(s) the Albert stays indie focused” in reference to the pub being known for specialising in independent Australian craft beer.
After brokering the recent $42 million sale of the Rose & Crown Hotel in Parramatta and the $10 million sale of Redfern’s Bat & Ball Hotel, HTL Property is managing the Royal Albert’s sale as a freehold going concern. An expression of interest campaign closes on April 13, 2022.
In a statement HTL said the two-storey hotel that occupies 211 square metres is strategically positioned between both the Campbell Street and Foveaux Street dining precincts and includes culinary neighbours such as Fire Door, Chin Chin, Nomad and Poly restaurants.
It added the business currently generates approximate revenues of $1,500,000 per annum, and features a midnight liquor licence with 12 poker machines attached. In its property listing, HTL also said passive income can be derived from seven first floor commercial offices.
HTL director Blake Edwards said: “The Royal Albert Hotel is at the centre of Sydney’s craft beer revolution, and offers incoming purchasers the chance to tap into what is widely considered the fastest growing niche market in the hospitality industry.
“The Royal Albert Hotel represents a compelling investment opportunity for a broad range of buyer segments; be that as a leasehold tenant, passive investor or a gaming hotelier seeking to relocate the machines out of the venue.”
