Riversdale snaps up Como Hotel

The hotel claiming to be one of the oldest buildings in Sydney's Sutherland Shire has been snapped up by Riversdale Group.

Como’s historic Como Hotel has been sold to Riversdale in a transaction described by the broking agent Manenti Quinlan as “a very good buy for them”. 

Rumoured to be a former drinking hole for iconic poet Henry Lawson and enjoying an idyllic location overlooking Carina Bay, the outgoing owners were Como Hotel Investments, which sold up due to the retirement of two of the company's five investor directors. 

A fire in 1996 closed the venue for five years, before it was carefully re-built incorporating the original brickwork and some features salvaged from the blaze. 

Speaking to TheShout, John Manenti of agents Manenti Quinlan said there was a lot of interest in the historic building, prompting 38 investment reports, 22 inspections and a total of 12 contracts requested of the hotel brokers.

“There was good interest in the hotel from a cross-section of investors, hotel groups and even locals, who saw it as something of a trophy site.

“It was showing a good cross-section of trade, but there is certainly a lot of upside for a group like Riversdale, who will come in and spend a few bucks and get it to its optimum,” said Manenti. 

Source: The Shout, 4 March 2013