Riversdale offers up the Marlborough Hotel for sale
By Vanessa Cavasinni, editor Australian Hotelier
As part of the Australian Pub Fund’s divestment of the Riversdale portfolio, Marlborough Hotel has now been placed on the market.
The jewel in the crown of the Riversdale stable of venues, “The Marly”, will be sold via EOI campaign, closing 1 March at 4pm. Andrew Jolliffe of Ray White Hotels has been engaged to handle the campaign.
Located in Newtown, just outside of Sydney’s CBD on the lively King Street, Marlborough Hotel is the largest Riversdale asset, and is considered the most valuable. The large-format pub includes a several bar areas, an activated balcony, function spaces and 30 EGMs. It also has an approved DA for a rooftop terrace.
"The multi-street fronted Marlborough Hotel is, in the first instance, a most serious piece of fringe CBD commercial real estate; and at almost 1000 sqm and numerous storeys including an approved alfresco roof top area; the investment flexibility is patently clear. In addition to all above however, is the cash flow potency and reliability the current business model promotes; with well in excess of $10m in combined annual receipts enjoyed by the balanced revenue centres," states Jolliffe.
Located in a central and highly-populated area, Jolliffe believes there is plenty of potential in the Marlborough for shrewd investors.
"Few A-grade hotel offerings we've been fortunate to be exclusively retained to sell have such business depth as does The Marlborough. Situated outside Sydney's lock-out zone, and with perpetual ownership of 30 very valuable gaming licenses and a DA approval for a licensed rooftop operation, it all augurs well for fantastic future revenue attraction. Staple this asset inventory with the property's proximity to the heavily populated Sydney University and active employee base at RPA, and the downstream access to nearby patronage looks incredibly solid."