Last drinks at Mount Druitt pub as owner seeks $80m sale

Hotel investor and operator Geoff Redmond has called last drinks at The Club Hotel pub in Mount Druitt after 30 years of continuous ownership.

Sitting on 1.2 hectares in the Mount Druitt town centre, next door to Westfield Mount Druitt and Mount Druitt Station, the hotel and commercial building under the Redmond Company Pty Ltd banner has price expectations of about $80 million.

Under the deal, the landholding carries concept development approval for 934 residential apartments and a 6000-square-metre retail and commercial precinct, with a broader range of future uses based on the site’s scale and zoning.

The Club Hotel, at 57 North Parade, covers about 2400 square metres and operates on a 24-hour licence with 30 poker machines. Next door, at 55 North Parade, the commercial office building covers 1800 square metres.

Sales agents at JLL said Redmond is open to an outright acquisition, joint venture or staged development partnership, which broadens the field of potential buyers beyond conventional developers.

The sale is being advised by JLL’s John Musca, Ben McDonald and Gordon McFadyen.

A development-approved hotel site in the heart of Sydney’s CBD has been brought to market that will offer buyers an entry point to the busy sector, for an outlay of more than $55 million.

Sitting at 355-357 Sussex Street, the freehold site comes with a recently granted development approval for a 272‑room lifestyle hotel across 17 levels. The owner is the developer Mulpha, which last year put out a call to investors to partner on the planned $200 million project.

The site currently comprises 718 square metres of freehold land, with a total approved gross floor area of around 6189 square metres.

The new hotel is planned to be developed on top of a warehouse and is located near Darling Harbour, Chinatown, Town Hall Station, the International Convention Centre and Bathurst Street for access to the Sydney Airport.

Under the approval, the contemporary architectural design has retained the heritage elements. The sales campaign is being led jointly by Colliers agents Karen Wales, Harry Bui, Steam Leung and Harry Mitchell, alongside Nicholas Lower and Niall Kumar of Savills.

The NSW government’s Sydney Metro has sold its vacant mixed-use development site in North Sydney to a private developer.

Having bought the land adjacent to the new Victoria Cross Metro Station, the 52 McLaren Street site was taken to market by Sydney Metro, intending to find a buyer to develop it “in a way that would form part of the creation of a vibrant metro station precinct”.

Occupying 3132 squ