Doyles on the Beach, Watsons Bay, listed for sale after 141 years

What is being sold

According to The Urban Developer, the sale covers the restaurant and a separate house at 11 Marine Parade and 2 Cliff Street, Watsons Bay. The freehold site is 2,504 square metres, with about 29 metres of frontage to Watsons Bay Beach and street frontages to both Marine Parade and Cliff Street.

The report says the land is zoned SP3 Tourist. It describes that zone as allowing hospitality, residential, tourism and visitor accommodation uses, subject to planning approval.

What the agents say

HTL Property managing director Andrew Jolliffe called the site a rare opportunity in a tightly held location, and said there are “very few hospitality assets nationally that combine this level of brand recognition”, according to The Urban Developer. National director Dan Dragicevich said the zoning and land value would appeal to hospitality operators and investors seeking long-term exposure to one of Sydney’s most prestigious waterfront precincts, the outlet reports.

HTL Property said buyers could consider long-term ownership, enhancement or repositioning of the site.

The numbers

• Price expectation: around $70 million, per The Urban Developer.
• Years in the one family: 141, since 1885.
• Site area: 2,504 square metres, freehold.
• Beach frontage: about 29 metres.

The sale method and closing date were not stated in the report we could read, and we have not confirmed them.