Sydney. April 26, 2016: The heritage-listed Terminus Hotel on the corner of Harris and John Streets, Pyrmont, has been sold by Auswin TWT for around $5-Million.
The purchaser wishes to remain confidential.
Zoned B4 Mixed Use, the hotel provides an opportunity for multiple bars, dining and accommodation options.
The Expression of Interest campaign for The Terminus Hotel was conducted by Andrew Jolliffe of Ray White Hotels Australia and Steven Tsang and James Aroney of JLL Sales and Investments NSW.
Mr Jolliffe said the successful purchaser identified with the significant character of the property, and is understood to be considering a number of uses, including the reactivation of the licensed premises.
I'm delighted to have been involved in another unique property sale, one which garnered interest from not only the key hospitality operators from Australia, but also drew offers from household names operating in the Asia Pacific.' Mr Jolliffe said. 'Not surprisingly, given the wholly compelling opportunity to acquire a piece of real estate so steeped in both history and opportunity, the level of interest was significant; and the casual interest shown by the residents of Pyrmont suggests to me that with the right application, the property will enjoy patriotic support and thus a prosperous rebirthing.'
Auswin TWT will still retain the 2,300 square metre carpark on the south-western side of the hotel where it plans to develop luxury terraces. Auswin TWT is also awaiting approval of a DA for a prestigious mixed-use development at nearby 495 Harris Street Ultimo which will contain 210 apartments and ground floor retail/commercial space.
“We are delighted that The Terminus Hotel will be brought back to its former glory by a sympathetic purchaser,” said Stephen Fitzpatrick, the General Manager of Auswin TWT, which had owned the property for around one year. “Its busy location should guarantee strong patronage as it is surrounded by residential and commercial development and gains high pedestrian passing trade and commuter exposure.”
The Terminus Hotel is two storeys and sits on a 493 square metre site with a Gross Floor Area of 543 square metres. The first level has 12 rooms for pub-style accommodation, and associated shower and restroom facilities.
Built in the early 1900’s Federation Style, the hotel was originally called The Cooper’s Arms Inn but took its current name in 1911 in reference to the tram service which terminated on Jones Street.
The hotel retains many original features including the red brick façade and the distinct parapet skyline detailing. Despite remaining uninhabited for the past three decades, the interiors maintain the charm of a bygone era with their metal ceilings and ornate floor and wall tiling.
