Albion Hotel, Parramatta development site hits market

Property ObserverFebruary 16, 20160 min read

Parramatta's 3,000sqm Albion Hotel is on the market after being privately held for more than thirty years.  

Bruce Solomon’s hotel and restaurant group Solotel is on the market through Ray White’s Andrew Jolliffe and Jeff Moxham and Anthony Khoury of Khoury Partners.

Solotel will retain and relocate the hotel licence and invest the sale proceeds in further growing the business, which already includes Double Bay’s Golden Sheaf, Aria and Chiswick restaurants, and the now world famous Opera Bar at Circular Quay.

Ray White’s Asia Pacific director of hotels Andrew Jolliffe said the George St site would appeal to hotel and residential developers alike; including a mixed use outcome.

“The flexibility afforded by this site is absolutely key for developers, and the combination of riverside positioning, north east orientation, scale of the land holding and permissible height levels, suggests to us that the interest in acquiring the opportunity will be both aggressive and certainly not restricted to local Australian development groups,” he said.

“We recently ran a hotel operator selection process for a China based client of ours, for a mixed use site they had in Chatswood, and the international interest from recognised hotel operators, developers and investors was profound."

The sale is through an expressions of interest campaign concluding Wednesday, March 16, 2016.

The landmark P.J. Gallagher's Irish Pub at 74 Church Street could be a step closer to becoming an apartment and hotel tower if the planning proposal is given the green light by the Parramatta City Council this month. 

Property Observer

Albion Hotel
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