Could Glebe’s Roxbury become student accommodation?
It appears last drinks have been served at the former Roxbury Hotel in Glebe, which has sold for $5.55 million.
The new owners of the former watering hole at 180-182 St John Rd are not interested in running the pub, instead opting to take advantage of DA approved plans for student accommodation.
This will see the pub and adjoining terrace, which was also part of the sale, turned into 25 self-contained units for students, with the ground floor to become a retail sector.
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Kristian Morris of Ray White Commercial managed the sale with Justin Rose and says there were a number of interested parties who planned to redevelop the site.
A developer known for building student accommodation has bought the property.
“The buyer recognised the opportunity to add immediate value and upside with the approved redevelopment,” he says.
It was a competitive campaign, with four serious buyers and more than 80 inquiries.
The buyers are local investors with a strong history in the student accommodation business, having other projects in Sydney’s east.
The Roxbury Hotel has been closed for more than a year and last changed hands in 2014 for $3.4 million.
This article from the Inner West Courier first appeared as “Glebe’s The Roxbury Hotel set to become student accommodation after selling for $5.55m”.
