This article is from the Australian Property Journal archive
THE Trinity Bar in Sydney’s Surry Hills has sold in an off-market deal for $8.5 million.
CBRE Hotels national director Daniel Dragicevich sold the property, which he said generated significant interest with the sale price reflecting further evidence of the strength of purchaser appetite for quality freehold hotels.
“The Trinity Bar has long been a Surry Hills favourite under Ray Reilly’s 18-year stewardship and the purchaser, Pete Calligeros, long-term owner of the Rag & Famish in North Sydney, is expected to carry on the tradition of the operation.
“It’s great to see an asset change hands from one traditional hotel family to another, with the knowledge that the sovereignty of the venue will be preserved under a similar style operator,” he added.
“We continue to experience a shortening of quality supply for thirsty investors as a prevailing market condition which means when good assets do hit the market there is genuine competition between buyers.” CBRE Hotels manager Ben McDonald said.
Australian Property Journal
