Opportunity knocks for the likes of pub barons Jerry Schwarz or Justin Hemmes, with yet another favourite Sydney watering hole set to hit the market.
Opportunity knocks for the likes of pub barons Jerry Schwarz or Justin Hemmes, with yet another favourite Sydney watering hole set to hit the market.

Iconic pub goes up for sale

Opportunity knocks for the likes of pub barons Jerry Schwarz or Justin Hemmes, with yet another of Sydney's favourite watering holes set to hit the market.

There are expectations "north of $10m" for Paddington's Unicorn Hotel, which will be officially launched to market on Tuesday for a May 6 auction.

The building, at 106 Oxford Street, is being offered fully tenanted - with Mary's Group co-owners Jake Smyth and Kenny Graham still running the popular pub downstairs and interior designers Studio McQualter set to move into the office space upstairs.

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The Mary’s Group has been operating the pub since 2015.
The Mary’s Group has been operating the pub since 2015.

Sales agents Paul Grasso, Steffan Ippolito and Will Dawson of IB Property were tight-lipped on the property's owner, though CoreLogic data shows a company linked to Mark and Rosemary Ingham bought the site for $6.1m in 2009.

The building makes an average $500,000 net profit per year.

The Mary's Group has been operating the pub since 2015 and serves up classics such as Unicorn meat pies, chicken schnitzel and Mary's Burgers.

Studio McQualter is a very famous interior designer with a global client base, including Zimmerman.

The landlord is doing a $150,000 refurbishment upstairs.

One of the dining areas is in the basement.
One of the dining areas is in the basement.

The listing follows a string of recent sales of Sydney pubs, including the Courthouse Hotel at Taylor Square in Darlinghurst late last year for $22m to investment group Moelis Australia. A refurbishment is planned.

Last November, Justin Hemmes of Merivale bought Randwick's The Duke of Gloucester - better known as The Dog - for about $32m from Good Beer Company.

In the inner west, Redscape bought the Gladstone Hotel in Dulwich Hill from long-term owner Craig Coote for $38m.

A prominent site.
A prominent site.

The Unicorn Hotel is described as an exceptionally well-maintained two-storey mixed use freehold building plus basement.

The property has a light-filled office space on the first floor with flexible open space.

On the ground floor, the pub features a bar, sitting area and a leafy courtyard.

Down in the basement, there is a dining room and main kitchen area.

Originally published as Iconic pub goes up for sale

It serves up classics such as Unicorn meat pies and Mary’s Burgers.
It serves up classics such as Unicorn meat pies and Mary’s Burgers.
The building makes $500,000 net profit per year.
The building makes $500,000 net profit per year.
There are multiple dining areas.
There are multiple dining areas.

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