Williams Wallace Hotel quietly changes hands at big discount
Birchgrove’s famed William Wallace Hotel is now under the control of an investment group after a secret sale.
Updated property records reveal new owners Capitalist Holdings Investments Pty Ltd settled on 31 Cameron St shortly before Christmas for $2.9 million.
Little is known about the people behind the company, but CoreLogic shows they are also behind the 2019 purchase of a rundown Dulwich Hill home for $1.955 million.
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The $2.9 million sale price is well under the $5 million price expectations the popular drinking spot had when it first hit the market in March 2019.
It was delisted in May and former owners, the Cowan family, are believed to have then sold it off market.
Affectionately known as the ‘Willy Wally’, the hotel is a favourite watering hole for inner west residents and Hollywood stars such as Russell Crowe, Naomi Watts and Burt Reynolds. It is also reportedly a favourite spot for Mel Gibson when he is in Sydney.
The William Wallace Hotel was being sold with DA approved plans for two major renovations, one for two townhouses and another to extend the pub to its boundary, taking further advantage of the views.
Speaking at the time of its listing last year, HTL Property’s Sam Handy said the hotel was an entry-level trading opportunity.
“There is compelling upside by way of repositioning the food and beverage proposition in concert with the injection of some fresh energy, focus and experience,” he said.
The secret deal comes as the inner west saw a number of popular pubs change hands in 2019.
The Oxford Hotel in Drummoyne was snapped up for $42 million by publican Arthur Laundy, while Annandale’s Empire Hotel and the Friend in Hand in Glebe, also traded for more than $10 million.
This article from the Inner West Courier originally appeared as “Birchgrove’s William Wallace Hotel sells for $2.9 million to investment company”.