Buy your own pub for $10,000, Balmain’s The Cat and Fiddle via Bricklet and iPAN-X
The Cat and Fiddle Hotel is up for sale.
For two years worth of booze, Aussies now have to chance to get closer to the source, or sauce, of it all – their own pub.
You could even make it a first home buy of sorts — depending on how much time you might want to spend at your own drinking establishment.
The owner of Balmain’s Cat and Fiddle Hotel, Richard Wynne, is offering keen investors the chance to buy into his much-loved hospitality establishment in Sydney’s inner west.
All this profitmaking pub fun could be yours. Picture: Richard Dobson
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It’s the sort of thing Midnight Oil might sing a song about.
Wynne is selling 80 per cent of the pub, which is valued at around $20 million, for punters to own a slice of the Cat and Fiddle via fractional ownership platforms Bricklet and iPAN-x.
He is offloading 1600 shares (or pieces, bricks or fractions) of the pub for $10,000 each, plus $300 for admin fees and stamp duty.
Investors can buy a piece of the pub for $10k each.
The new owners will receive rental income on a monthly basis.
“We have received a lot of inquiry, it’s been crazy, we’ve been overwhelmed,” Bricklet chief executive Darren Younger said, since the clever initiative was launched, with help from The Daily Telegraph.
“There’s a lot of emotional attachment there. A lot of people would like to own a pub but not many of us have $15 to $20 million in our back pocket.
The Cat and Fiddle has been an inner west icon for decades. Picture: Ross Schultz.
“Typically not a lot of people can access this kind of opportunity for that direct access to ownership.
“It’s a great way for people to have commercial property as part of their investment portfolio.”
Owners purchase the pub asset, which is then leased to the operator.
Interested buyers can purchase more than one single fraction or brick of the property if they desire.
Mr Younger said he expected the 1600 individual allotments to be sold out by Christmas.
The Bricklet team will guide interested buyers through the process, so they are aware of what they are getting into and whether it’s the right investment for them.
Then some of them might head over to the Cat and Fiddle and have a beer or two to enhance their own bottom lines.
(L-r) Nixon Alex, CEO iPan-X, Giuseppe Porcelli, Chairman Bricklet and Darren Younger, CEO Bricklet. Picture: Supplied
“I reckon a few buyers might be doing that,” Mr Younger said.
According to Australia Bureau of Statistics data, Aussies drink about 680 bottles of beer per adult per year. So, at around $7.50 a beer, that’s your new investment in the pub industry covered.
According to the Cat and Fiddle Hotel website: “the pub was initially established in 1930 as the Star Hotel (making it the second last one to be built in Balmain).
“It went on to become a neighbourhood icon in the ‘80s and ‘90s as one of the few live music venues in Sydney – with bands such as The Whitlams, The Waifs and Leonardo’s Bride kicking off their careers there.
The Whitlams cut their teeth at the Cat and Fiddle. Source: Supplied.
“After almost a century, it has reclaimed its crown as the king of the inner-west pub jungle, owing to a recent renovation led by veteran hotelier Richard Wynne.”
For more information visit Bricklet or iPAN-X.
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