Iconic Perth pub hits the market
It rose from the ashes after fire destroyed this grand old dame, and now one of Perth’s oldest, most iconic pubs has hit the market and is expected to fetch a pretty penny.
Reopened in 2016, the striking white and grey majesty on James Street is now the façade of what could be considered Perth’s best pub renovation according to CBRE agent Ryan McGinnity.
“The property offers a stable income stream of circa $945,000 per annum, with 90 per cent being derived from one of Australia’s leading hospitality operators, Australian Venue Co, under a long-term lease agreement expiring in 2042,” he said.
McGinnity said the pub was in a prominent position on 5300 square metres and offered a future development upside for an incoming purchaser with approval for a fresh food grocer, along with multiple retail tenancies.
The Guildford Hotel didn’t pour a beer in eight years after the fire destroyed the heritage-listed building causing around $1.5 million in damage.
The hotel stood derelict until restoration works began in 2014 after the WA Heritage Council gave approval for partial re-roofing of the pub and the state government chipped in $100,000 for its construction.
The history of the Guildford was woven into the restored hotel with original tiles, fireplaces, doors and windows retained.
Giant jarrah roof beams and charred convict-made bricks have also become features of the refurbished hotel which includes a beer garden and an upstairs bar with a retractable roof.
It reopened in 2016 with Premier Colin Barnett cutting the ribbon to the 1886-built hotel, marking the end of a long and drawn-out restoration process.
Strategic Property Group managing director Trent Fleskens said like the steep price of a pint at the bar he expected the vendors to be chasing a pretty penny for the heritage pub.
“The Guildford Hotel has had an interesting ride since it burned down in 2008 after over 100 years in operation,” he said.
“Since its refurbishment and expansion into the heritage building next door, some would say it is a stronger venue than ever before.
“The hospitality game in WA is a rather risky venture, with a fairly consolidated ownership across the state. I wouldn’t be surprised if one of the major outfits takes over conservatorship.”
