Cheers! Ryde's Royal Hotel sold for $18 million
Gallagher Hotel Management has bought the Royal Hotel in Sydney’s Top Ryde for about $18 million.
CBRE agent Daniel Dragicevich said the area had a growing population.
It is adjacent the Top Ryde City Shopping Centre.
It is the priciest of Gallagher Hotels' 13 properties.
It has been much traded, selling seven times since 1986.
It last traded in 2009 when Hedley Leisure, aka Redcape, secured $9.25 million.
It had previously traded at $14 million in 2006 when sold by the Grant Samuel syndicate which paid $15.5 million in 2005.
It sold at $8.7 million in 2003.
In 1999 it was sold at $5.4 million by William Bowmore who had paid $1.7 million in 1986.
Jonathan Chancellor
Jonathan Chancellor is one of Australia's most respected property journalists, having been at the top of the game since the early 1980s. Jonathan co-founded the property industry website Property Observer and has written for national and international publications.
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