Eastern Suburbs Freehold provides unique opportunity for Occupiers and Investors

31 October 2022

 Impressive corner Freehold and tower built circa 1859, is being offered with vacant position after a rich history of uses including a hotel, school, a butcher and much-loved Pizza Hut.

Steeped in history, the property was built circa 1859 by William Ellis the Alderman of Randwick as one of the earlier hotels in the region named the Star and Garter Inn, and provides a distinctive commercial offering in the heart of one of Sydney’s most popular and highly sought after markets.

Located at 141 Belmore Road, the property is currently vacant retaining majority of its restaurant and bar fit out for the incoming purchaser to utilise.

With a gross floor area of 438sqm, the building is listed through the Colliers team of Matt Pontey and Miron Solomons, with price expectations in the high $3 millions.

“This is one of the most recognisable buildings in Randwick on such a prominent corner,” Mr Pontey said. “141 Belmore Road is one of those assets with strong fundamentals and is arguably in the best position in all of Randwick.”

“The local Eastern Suburbs market continues to attract capital especially for assets with continuing to offer diverse income streams and entry/exit opportunities Mr Solomons added.

“The buildings attributes coupled with its rich local history will undoubtedly bring strong interest in a market which is underpinned by over $1.5 billion in nearby infrastructure projects.”

Its position is set to benefit from the nearby Randwick Medical and UNSW’s growth precincts as well as already benefitting from the nearby Light Rail infrastructure, providing central connectivity to Sydney’s CBD.

141 Belmore Road, Randwick is offered for sale via Public Auction on Thursday, 1 December 2022 at 10:30am (AEDT) at Cooley CBD Auction Centre, Level 5, One Margaret Street, Sydney.