News & Research

Boutique Sydney Hotel Sells for $57.6 Million

The former Pensione Hotel, now known as the Ume Haymarket, at 631-635 George Street, Sydney has sold for $57.6 million. The buyer was JDA Haymarket Properties Pty Ltd, a company owned by hotelier, John Feros of Cronulla.

Ume Haymarket comprises two, four-storey buildings. The building at 631 George Street, built circa 1892 as a hotel, links George and Sussex Streets. The other building, formerly the Haymarket Post Office, was built to George Street in 1926-27. The buildings were extensively reconstructed in early 1994 to complete the Sussex Arcade and refurbished again in late 2004, converting upper levels to a 72-room hotel. The arcade consists of 12 shops. The George Street building includes a ground floor tavern and basement cellar, extended and refurbished adding a courtyard beer garden in 2006.

The hotel had not sold in almost a quarter of a century, trading at $6.7 million in June 2000.


CoreLogic Australia

CoreLogic Australia

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