Gateway Hotel Group has acquired the freehold interest in the Parkview Hotel, Alexandria in a pre-auction sale, after 14 years under private ownership.
Across two levels, the Parkview Hotel houses a ground floor public bar with outdoor beer garden, a gaming room with 15 coveted City of Sydney gaming machine entitlements, and a first-floor restaurant.
Located just 4 kilometres south of Sydney CBD, the area surrounding the pub is undergoing major urban renewal. The pub sits in close proximity to the $1.5 billion Ashmore Precinct project which is now in its final stages, turning 17 hectares of former industrial land into a mixed-use hub with new housing, retail and commercial space.
Owned by a private Sydney investor for 14 years, the pub was set for auction following a four-week campaign, but, strong buyer interest combined with its position in Alexandria’s growth corridor prompted a pre-auction sale. Publican Nathan Dawes and his Gateway Hotel Group acquired the hotel in a transaction handled by JLL Hotels’ senior vice presidents Kate MacDonald and Greg Jeloudev and managing director Ben McDonald.
Dawes shared his excitement to introduce the Parkview Hotel to Gateway Hotel Group’s portfolio, marking the fifth addition in five years.
“The purchase of PVH is both an exciting challenge and a proud milestone. Pubs are at the heart of our communities, and I’m committed to building on its history while creating a welcoming space, where locals and visitors alike can feel at home. We plan to continue growing the group by purchasing quality assets with high growth potential from Brisbane and now Sydney,” he stated.
Emphasising strong market activity in the national pub market, MacDonald commented: “The pre-auction transaction demonstrates robust investor demand for well-positioned inner-city hotels, particularly those with considerable gaming machine holdings.
“Securing a Sydney metropolitan hotel featuring 15 gaming machines at this price point has become exceptionally challenging, with such opportunities expected to diminish further as economic conditions strengthen.”
McDonald added: “Achieving this strong result before auction reflects our commitment to delivering exceptional outcomes for our clients. JLL specialises in working alongside long-term investors to optimise divestment outcomes through bespoke marketing campaigns that capture peak market conditions and capital demand.”