Captain Cook Hotel Paddington: outstanding leasehold opportunity
The iconic Captain Cook Hotel in Sydney’s Paddington is up for grabs – and the opportunity exists for an established and experienced hotel operator to turn around the existing business of one of the closest pubs to the SCG.
The leasehold and business are for sale, with Expressions of Interest sought by August 1, 2019. There’s a long-term leasehold opportunity including bar, bistro, gaming area and accommodation, and a currently unutilised roof terrace. With the redevelopment of the Moore Park precinct, including the recently announced mega-hotel accommodation proposal, as well as the high density Paddington community, the opportunity to revive this historic public house is limitless.
“This is an ideal opportunity for an experienced hotel operator who can see value in the investment,” says Andrew Spring, Partner with insolvency firm Jirsch Sutherland, who is handling the Voluntary Administration of the business. “It’s an iconic pub that’s been a Paddington landmark since 1914. Who hasn’t had a drink at the Captain Cook on the way to or from the cricket or the football in the Moore Park sporting precinct?”
Spring explains that the business was placed into Voluntary Administration because it was under-capitalised “which has resulted in a lack of capital investment and an inflexibility in trading operations”.
Interested parties can contact Leonard Bongiovanni of Manenti Quinlan and Associates – firstname.lastname@example.org
About Jirsch Sutherland
Established in 1984, Jirsch Sutherland is one of Australia’s leading national independent insolvency specialists. The Jirsch Sutherland team works closely with small and mid-size accounting, finance and legal firms – and their clients – to provide a wide range of expert corporate and personal insolvency services including liquidations, voluntary administrations, receiverships and bankruptcy.
With head offices in Sydney, Melbourne, Brisbane, Newcastle and Perth, supported by a network of regional offices, Jirsch Sutherland’s national reach combined with a local presence underpins the company’s ongoing.
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