Old Fitz pub hits the market

The Old Fitzroy Hotel in Sydney’s harbourside area of Woolloomooloo is on the market, with the vendors looking at a leasehold sale.

Affectionately known as ‘the Old Fitz’, the hotel also houses a live theatre venue that has enjoyed a cult following since its inception in 1997. The pub has been owned and operated by Gary Pasfield for more than 20 years, but he has decided to lease out the business.

HTL Property’s Sam Handy and Blake Edwards have been appointed to the campaign; amid the coronavirus pandemic, the pair recently sold the leasehold interests of the Duke of Enmore Hotel and Sly Fox Hotel.

The leasehold of the Old Fitzroy Hotel in Sydney's Woolloomooloo is for sale.
The leasehold of the Old Fitzroy Hotel in Sydney’s Woolloomooloo is for sale.

Mr Pasfield said that after closing the pub and seeing through the worst of pandemic restrictions, he is approaching the campaign with an “open mind regarding the various lease and sale outcomes”.

“We’ve received numerous unsolicited approaches on the business and property over the last six months and thought it would be best to put a structured sale process in place as a result,” Mr Pasfield said. “There are myriad ways in which this asset could be cut up.”

Mr Handy said there is a “huge thirst” for quality leaseholds from a range of operators, be they hoteliers, bar operators or restaurateurs.

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Source: Thanks smh.com