Savills News

Port Adelaide pubs the new hot property

Investors are swooping on pubs in Port Adelaide, highlighting the rapidly rising popularity of hospitality assets within the City of Port Adelaide and Enfield.

Investors are swooping on pubs in Port Adelaide, highlighting the rapidly rising popularity of hospitality assets within the City of Port Adelaide and Enfield.

The recent boom in the port precinct is a reflection of the “trendy” food and lifestyle culture, according to one commercial property agency.

Savills Australia’s Rob Williamson and Steve Bobridge recently sold the Dockside Tavern at 130 Lipson Street to the Ginos group for $1.15 million.

“The sale was negotiated off market but received interest from two other parties,” Mr Williamson said.

There are about 10 pubs in Port Adelaide within a small vicinity, many of which are in heritage buildings and have been operating for more than 100 years.

Savills, together with Langfords Hotel Brokers’ John Langford, have been appointed to sell Port Doc Brewery Hotel at 10 Todd Street, with expectations of circa $2 million to $2.5 million.

“The Port Doc Hotel has had a rich and diverse history throughout the years and, while being offered with vacant possession, the generous site and improved area provide for a wonderful opportunity to create a special experience in Port Adelaide,” Mr Williamson said.

“The 1,142sq m property is spread across six titles and has three frontages, providing flexibility to the new owner.”

Savills has also been appointed to market the Portland Hotel at 286 Commercial Road, and anticipates offers of about $3.5 million.

The 1,153sq m building sits on a prominent corner block and generates an estimated net rental of $235,000 per annum.

Mr Williamson said the hotel would provide “a sturdy investment”.

“The Portland Hotel, which recently underwent improvements to the bar, gaming area, dining and upstairs accommodation, is leased to South Australia’s largest independent gaming hotel group, which has shown confidence in recently renewing the lease for the next term,” he said.

Learn more about Savills Pubs & Hotels services.

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