Historic Woolbrokers Arms Hotel changes hands after just 12 months
The historic Woolbrokers Arms Hotel in Sydney’s Pyrmont has been sold for $9.6 million.
The previous owner only held onto the pub for a year before cashing in and making a $600,000 windfall. The property is currently running as a 27-room budget hotel, which is leased on a five-year term until 2023.
Colliers International selling agent Miron Solomons said the new owner will continue operating it as it is.
“There’s a lease in place, they’ll see that through and then decide if they’ll refurbish or reposition the building, so (it’ll be) more of a long-term view,” Solomons said.
Built in 1886, the Woolbrokers Arms Hotel was used by workers employed at the nearby wharf and woolstores.
Sheridan Randall, 14th December 2018
