Sydney's Annandale Hotel up for sale !
28 March 2011 – Article by Poppy Reid of The Music Network
One of Sydney’s most beloved live music venues, the Annandale Hotel, is up for sale.
Decade-long owners Matt and Dan Rule have officially put the pub on the market this week in the hope an investor will develop the venue into a much larger entertainment complex.
According to the brothers, DAs have been approved for major redevelopments to the Wok ’n’ Roll restaurant out back with permission being granted to extend the outdoor seating space and bar to cater for more than 250 patrons. In addition to the existing bar and music venue, a third bar area has been approved to serve as a public bar with a gaming room and outdoor area of its own to boot.
“DAs are already approved and The Annandale is ready for a new owner to undertake renovation to make this a landmark hotel within months,” adds Rule. “Investors are going to see this business grow – which is already an iconic music venue – into a massive hotel with so many more arms to it whether it be functions, gaming, sport, food or, of course, live entertainment.”
Under the approved plans The Annandale will be able to cater for more than twice the number of its current patrons. The existing hotel business sees 25 shows a month booked months in advance, 1am trading, eight accommodation rooms and nine poker machines already in the mix. This sale has enticing written all over it.
“This is already a successful business,” concludes Rule. “The only thing holding the hotel back is the number of patrons it can cater for. These approved upgrades and renovations make this an exciting offer for experienced hoteliers or someone wanting to break into the pub business.”
After being bought in 1998, the Annandale Hotel infamously closed as a live venue and surrendered to poker machines. A year later, new managers The Rule brothers famously turned the venue around and reinstalled live bands, eventually purchasing it themselves.