Iconic Republic Hotel on offer with $50m price tag

Expressions of Interest for The Republic Hotel will close on the 22nd September.

The iconic Republic Hotel in the city of Sydney has returned to market after two years via an International Expressions of Interest campaign.

Located on the corner of Pitt and Bridge St in the north of Sydney’s CBD, the four-level pub had been previously acquired for $35m in 2019 after undergoing a multimillion-dollar renovation to include a rooftop bar.

Occupying a site area of 228 sqm, The Republic is being presented to market by commercial agencies Savills and JLL – with expectations that the asset will fetch in excess of $50m.

The Republic Hotel is located on the corner of Pitt and Bridge St.

Savills NSW State Director of Hotels Nick Lower reportedly told The Hotel Conversation that the Republic Hotel presented “a once in a generation purchase that compares to ‘Mayfair’ on any Monopoly board”.

According to the listing, the property at 69-73 Pitt St offers buyers a once in a generation acquisition opportunity.

A view of the bar area.

“The property is surrounded by premium grade office buildings, 5-star hotels and numerous retail offerings with excellent transport connectivity to Sydney Harbour and its world class tourism attractions.”

The hotel is also located opposite the ASX in Sydney’s CBD financial district.
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The property had previously traded for $5.33m in 1999.

Features of the property include a 5am trading license with the potential to transfer gaming entitlements and alternative building uses with potential development of an additional floor or conversion into an occupied/leased office or retail space.

The hotel, which has been a licensed venue since 1865, spans three streets and had previously traded for $5.33m in 1999.

The pub is expected to sell above $35m.

Sydney’s hotel sector has continued its strong post-Covid recovery, with recent sales including the 151-year-old Lord Roberts Hotel in Darlinghurst for $22.5 million, and the high profile recent sale of Bar Broadway in Chippendale at the southern end of the CBD by JLL Hotels for $36m.

Expressions of interest for The Republic Hotel will close on the 22nd September.