Iconic Newtown pub up on the market as owners look for $18m
A popular Newtown pub has been listed for sale at a hefty price tag.
The Warren View Hotel has landed on the market for the first time in nearly two decades, with a price guide of $18m.
The iconic site has been owned and operated for the last 17 years by Theo and Tanya Damianakis.
The couple have been at the helm of two major renovations and refurbishments in the past five years but are now looking to call time on their ownership of the venue.
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The newly refurbished pub has a price guide of $18,000,000. Picture: Supplied.
The hotel on the intersection of Stanmore and Enmore Rds boasts a popular beer garden, exposed look ceiling and has been a mainstay for generations of inner west residents.
“We’ve operated the business for some 17 years and are simply ready to hand the torch over to the next operator,” Mr Damianakis said.
“We’re selling with a heavy heart but feel as though the time is right for both Tanya and I to move onto the next stage of our lives,” he added.
The pair said the new trading approvals that allow the business to extend trading hours up to 2am were another reason they were looking to sell the 800 sqm property.
Agency HTL Property has been tasked with selling the property, headed by agents Sam Handy, Dan Dragicevich and Blake Edwards.
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Owners Theo and Tanya Damianakis are looking to move on from the industry.
The 800 sqm space also features a popular beer garden.
“A recent 2am trading approval, circa $5 million renovation and refurbishment, large patron capacity, expansive trading footprint and an outgoing single-asset owner all within one of Sydney’s busiest entertainment precincts is frankly magnetic to the investor landscape,” Mr Handy said.
“Given prohibitive construction costs in today’s market, this aspect of any investment opportunity is something the market looks at very closely,” added HTL Property National Director, Dan Dragicevich.
Expressions of interest for the hotel are set to close on 2 October, unless sold prior.
Reporting by: George Al-Akiki
