Historic Sydney pub featuring Bob Hawke tribute hits market for first time in 60 years
After trading under the stewardship of the same family for more than six decades, one of Newtown’s oldest and most cherished pubs is now up for sale.
An inner-west Sydney institution since 1876, the Carlisle Castle Hotel – a classic two-storey freehold pub featuring a giant mural of former Prime Minister Bob Hawke – has been offered to market by MQ & Associates through an expressions of interest campaign.
The beloved watering hole brimming with old school charm occupies a commanding 568sqm corner site in one of the city’s most sought-after hospitality locations, just moments from Newtown’s bustling King Street and Enmore Road, Royal Prince Alfred Hospital, The University of Sydney, and the Carriageworks arts precinct.
The freehold going-concern interest in the Carlisle Castle Hotel is being offered for the first time in 60 years. Picture: Supplied
Leonard Bongiovanni, director of MQ & Associates, highlighted the sale as one of the few remaining generational pub offerings in Sydney’s inner city.
“Opportunities like this don’t come around often; the Carlisle Castle is an institution, and with strong core trade and multiple avenues for uplift, it presents as a premium value-add proposition for both operators and investors,” Mr Bongiovanni told realcommercial.com.au.
The ground floor offers a versatile layout that includes a public bar with a stunning Italian-imported marble bar, lounge seating, billiards room, beer garden, bottle shop, and a bistro currently operated by a third party, all serviced by a commercial-grade kitchen.
The upper level includes 13 accommodation rooms, currently let to long-term residents, providing a stable rental income stream. The hotel also holds 10 gaming machine entitlements, currently leased under short-term agreements, giving the incoming purchaser strategic flexibility to either reintegrate the gaming into the venue or continue leasing for passive income.
The old-school bar is made from Italian imported marble. Picture: Supplied
Tom Cullen of MQ & Associates said future owners will inherit not just a functioning pub, but a property steeped in local history with clear room to grow.
“Everything you need for a strong-performing metro pub is already here; a great corner position, strong bones, consistent bar and retail trade, and the chance to unlock real upside through food, gaming, and accommodation,” he said.
“In this part of Sydney, assets like this are increasingly rare, and it’s easy to see the long-term appeal.”
A bare-chested Bob Hawke
Rich in heritage and character, The Carlisle Castle Hotel has long been a favourite among locals, known for its authentic charm, community feel and easy accessibility from surrounding suburbs including Erskineville, Camperdown, Enmore and Marrickville.
In 2019, a giant mural of a shirtless Bob Hawke holding a beer and a newspaper crossword puzzle was painted on the side of the hotel’s exterior.
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The famous mural was painted by local street artist Scott Marsh, who was also behind the 2017 same-sex marriage mural depicting Tony Abbott in a wedding dress on Newtown’s Botany View Hotel, and the ‘Casino Mike’ mural of former NSW Premier Mike Baird, which featured on a wall outside the Lord Gladstone Hotel in Chippendale.
The tribute was made to promote Hawke’s Brewing Co, the Aussie craft beer company the former prime minister helped to create, and one of the Carlisle Castle Hotel’s featured brews.
“Why a mural of a bare-chested Bob Hawke holding a schooner in a small pair of shorts? Because that is just what Aussies do, right?,” Hawke’s co-founder Nathan Lennon said at the time of its unveiling.
“Bob we believe is our greatest former prime minister…and he has shown us time and time again that it is really the simple things in life about living in this country that are often the best. Whether that is sitting on your patio, doing a crossword or reading the paper, or going to watch at Test at the SCG and watching the baggy greens.”
Inner west pubs selling spree
The Carlisle Castle Hotel listing comes hot on the heels of several pubs and bars in Sydney’s inner-west also hitting the market.
They include the Kurrajong Hotel in Erskineville, The Town and Country Hotel in St Peters – a pub dating all the way back to 1821 and immortalised in the 1980 Slim Dusty song ‘Duncan’ – and Kuleto’s Cocktail Bar in Newtown.
Erskineville’s Kurrajong Hotel is on the market, offering investors a ‘blank canvas’ freehold opportunity. Picture: realcommercial.com.au
The nearby Rose Hotel in Chippendale was also listed for sale in early May by JLL Hotels & Hospitality Group, with expressions of interest closing on Tuesday 3rd June.
Senior vice president of pub investment sales, James Smithers, told realcommercial.com.au the sale is currently in negotiations, with an announcement to be made in the coming weeks.
Mr Smithers noted NSW pubs as continuing to offer compelling risk-adjusted returns.
“Underpinned by resilient cash flow, tangible real estate value and diversified revenue streams, pubs are increasingly viewed as a high-quality alternative to more cyclical sectors such as retail or office,” he said.
“Freehold going concerns in prime metro locations remain tightly held, with strong interest from institutional capital, high net worth families and syndications seeking stable cash flow and long-term growth. The sector’s adaptability, embedded land value and alternative use potential continue to support investor confidence.”
The leasehold interest of the Newtown Hotel (pictured) recently sold. Picture: Supplied
Meantime, the leasehold of the iconic Newtown Hotel sold last week in a reported owner-swap arrangement – which saw Universal Hotels offload the leasehold interest of the Newtown Hotel to a locally based private Hotelier and in return purchase the freehold of the Lord Roberts Hotel in Darlinghurst.
