Second venue sale for troubled pub group

A second pub owned by the J&J O'Brien group has come on the market, offering a historic city freehold in the bustling Sydney entertainment district.

The Belvedere Hotel on Bathurst Street has been listed for sale, following last week's launch of a sale campaign for Jacksons on George.

J&J O'Brien slipped into receivership in April.

The 1823 three-storey brick building features the Belvedere Brasserie restaurant on level one, several bars, smoking solutions, gaming permits and entitlements.

A stone's throw from Town Hall and a block from the George St cinemas and Chinatown, managing agent Mike Wheatley of Knight Frank said the property has excellent redevelopment potential.

"It's a very rare opportunity – having 13 poker machine permits and 3 PMEs, and being located in such a vibrant area of the CBD," he told TheShout.

"The hotel has been renovated to the highest standard. We are expecting considerable interest, particularly given the recent spate of sales in Sydney."

Source: The Shout, 24 July 2013