Riversdale's largest Sydney hotel, The Marly, listed for sale

Riversdale's largest Sydney hotel, The Marly, listed for sale
Riversdale's largest Sydney hotel, The Marly, listed for sale

The Riversdale Group has appointed Ray White Hotel broker Andrew Jolliffe to sell the iconic Marlborough Hotel in Sydney's inner city suburb of Newtown.

It is Riversdale’s largest and most valuable hotel property. It last traded for $7,675,000 in 2012.

Offers close March 1, on The Marly, an expansive large format hotel with multiple bars, function spaces and a high performing gaming room with 30 very valuable EGMs.

"The Marlborough Hotel is a compelling opportunity for astute investors," he said.

"Located 5km from the Sydney Central Business District, the 978sqm property comes with a 1940’s constructed Interwar architectural style hotel.

"The multi-street fronted Marlborough Hotel is, in the first instance, a most serious piece of fringe CBD commercial real estate; and at almost 1000sqm 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 centers.

"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.

"We've espoused the view recently, and confidently, that the market indicators suggest a case for A-grade freehold hotel yields to contract below 8% in gateway east coast cities.

"In fact, with the prevalence of well-priced debt and record revenue levels being achieved in some sectors of the industry, the downward pressure in yields is far more pronounced than any upward pressure we've seen exhibited."

Tags: 
Hotel Sale Riversdale

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