Notable inner west pub The Marrickville Ritz offers premium portfolio
Expressions of Interest for the Ritz close on the 17th of November.
A noteworthy inner west pub is being presented to market, as part of a broader portfolio of commercial assets that aim to appeal to blue chip investors.
Many of the properties within the portfolio are leased to blue chip tenants including NAB, TAB, BP and Viva Energy.
The Marrickville Ritz sits on a 942 sqm site and is considered one of the best performing pubs in NSW – with a strong net rental yield of $544,679 per annum.
The Marrickville Ritz is being sold as part of a commercial portfolio.
There is potential for the successful buyer to transform the site at 252-254 Illawarra Rd into a mixed-use development with flexible zoning and a building height of 20 metres.
Colliers National Director Harry Bui said the pub is one of many properties in the portfolio situated in Sydney, with the others including a NAB Bank in Cabramatta, Domino’s Pizza in Baulkham Hills, and a TAB in Yagoona.
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A street view of the Cabrramatta site at 22 John St.
“It’s only early days, but it appears that investor demand remains resilient in response to the changing property market,” Mr Bui said.
“Investors are competing at the lower end of the property market and we are already seeing evidence that this is creating a flow-on stimulus to the rest of the market as investors upgrade to bigger or better properties.”
The properties are listed through Colliers and will arrive together for public auction on the 24th November.
793 Tomago Rd, Tomago is included in the commercial portfolio.
The portfolio features an average WALE of four years and is the largest national premium investment offered by Colliers this year, with combined pricing of circa $80m expected.
“Strength of tenancy, length of the lease are risk factors and will come under close scrutiny from buyers.”
“Multi-tenancy properties where risk can be spread, together with blue chip-leased properties, will become sought-after and this will be reflected in the yield and prices that will be achieved.”
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