Calligeros snaps up Sydney’s Trinity Bar

Sydney publican Peter Calligeros has added another venue to his growing stable of bars and pubs, buying The Trinity Bar in Surry Hills.

Calligeros, whose hotel group also owns North Sydney pubs the Rag & Famish, Alberts Bar and the Mount Street Terrace Hotel, paid $8.5 million for his latest venue.

As reported on realcommercial.com.au in April, the Crown St pub was offered for sale publicly for the first time in 20 years, sparking significant interest within Sydney’s hospitality industry.

Long-time operator Ray Reilly, who took ownership of The Trinity Bar 1998, sold the property through an expression of interest campaign, with CBRE Hotels national director Daniel Dragicevich suggesting a desire to maintain the bar’s tradition was a key part of the negotiations.

“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 says.

Also key to the sales process was the soon-to-be-constructed South East Light Rail, linking Central Station to Randwick

Dragicevich says Surry Hills’ pub market is booming, with the forthcoming South East Light Rail system set to drive further demand in the area.

“Surry Hills is experiencing a resurgence in recent times, following various hotels in the area transacting and re-launching – further establishing the suburb as a genuine hospitality destination,” he says.

“Also key to the sales process (for The Trinity Bar) was the soon-to-be-constructed South East Light Rail, linking Central Station to Randwick.”

“The only proposed Surry Hills stop is on Devonshire St, in close proximity to the Trinity Bar, which will no doubt greatly assist the long-term profitability outlook of the venue.”