Once-funky Moog hotel passed in at receivers' auction
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Moog, the home, hotel, restaurant, bar and recording studio in one location in Surry Hills, was listed with $8 million expectations by Simon and Susanah Page in 2005. The three-level terrace in Bourke Street was relisted at $5 million in 2010. The property, with the potential to be returned to its original nine-bedroom layout, was passed in at its Colliers auction this week on a $3.8 million vendor bid.
Auctioneer Damien Cooley suggested there were four or five interested bidding parties but could not solicit any bids when it was offered under receivers' instructions through listing agent Paul Fernandes.
In its heyday the place offered the $1,000-a-night Moog Hotel experience, which included designer pool with underwater speakers. It even laid claim to the most expensive cocktail in Sydney –the Amex Noir at $2,003.
The Pages arrived in Sydney from New Zealand and embarked on developing nightclubs. In 1996 the couple opened the doors to Sublime, a hip subterranean club built in the old Brashs music store on Pitt Street. They later took on Home nightclub at Darling Harbour. They then created the one-suite Moog Hotel, which was ranked as one of the world's coolest hotels by Conde Nast Traveler.
Paul Fernandes marketed it as a grand Victorian mansion transformed into a unique designer home and integrating a distinctive diverse investment.
"So many things to so many people – its individual and matchless potential embraces retail, commercial, boutique hotel and residential," he suggests.
The ads said receiver and manager’s sale – clear instructions to sell. Its annual current income from the wine/tapas bar is $74,000.
