The Rocks’ Harbour View Hotel sails onto market

Publican Brian Perry is set to offload the Harbour View Hotel in the Rocks, following his decision to put it on the market.

Sitting in the most tightly held hotel precinct in Australia, it is expected to sell for around $12 million.

If it sells in that vicinity, it will be an impressive payday for Perry, who purchased the property through his Repeller Nominees Pty Ltd company in 1998 for $2.18 million, according to CoreLogic data.

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The Lower Fort St hotel is on the market ahead of Perry’s impending retirement.

The hotel in 1986.

It is listed with JLL Hotels & Hospitality Group who are seeking expressions of interest until July 25.

The Harbour View Hotel is one of the few freehold hotels in the Rocks, and was a famous haunt of celebrity Paul Hogan and a filming location for the 1982 Australian movie Starstruck.

According to insiders, pub owner and investor John Singleton is one party who has shown interest in the site.

JLL national director John Musca says savvy buyers have the opportunity to own the building for less than the price you would pay for an exclusive house in the area, with residential rates averaging $20,000 per sqm.

The hotel is a popular watering hole for Sydneysiders and tourists. Picture: Christian Gilles.

“It’s a very special, generational asset for an investor or hotelier and, subject to relevant approvals, the Harbour View could also make an aspirational office or residence as well as a hotel.”

The current hotel was constructed in 1924 after the previous one was forced to move to make way for the Sydney Harbour Bridge. During the bridge’s construction it was a popular watering hole for thirsty workers.

The currents owners have completed a major renovation designed by Wayne McPhee & Associates.

The stunning view from the property.

It features a ground floor Oval Bar, gaming room with 15 poker machines, first-floor bar and restaurant, function rooms and a rooftop terrace.

In 1999 it was added to the NSW State Heritage register and the City of Sydney has included the hotel in its Local Environment Plan as a building of local Significance.

The listing follows a string of activity in the Sydney pub game, including the $10.3 million sale of the Empire Hotel in Annandale, the record breaking sale of Hotel Steyne in Manly and the $30 million listing of the Duke of Gloucester Hotel in Randwick.

This article from the Daily Telegraph originally appeared as “Last drinks called as iconic Sydney pub Harbour View Hotel hit the market”.