254 Military RoadNeutral Bay NSW 2089
Property Details for 254 Military Rd, Neutral Bay
Last Listing description (November 2021)
Iconic Wine Bar in the Heart of Neutral Bay - Business & Freehold Sale
Deans Hotels division is delighted to exclusively bring to the market the Freehold going concern interest of the "Pickled Possum" wine bar in the heart of the Neutral Bay, NSW shopping precinct. This iconic bar, which has been held by the current owner/operator for 38 years, is now looking for a new owner to take it forward, re-purpose it or develop it further.
This is a tremendous opportunity for an astute Investor or Owner Operator to capitalise on the operations or lease the ground floor business and the first-floor residence either together or separately and sit back and bank the rent while watching your asset increase in value over time!
The Pickled Possum is an iconic Karaoke bar and currently only opens 3 short evenings per week yet remains quite profitable for the vendor due to the simplistic nature of the business format.
With such a prominent location on Military Road with easy direct access to public transport almost at your door and available street parking, the possibilities to increase sales and profits by extending the offering, trading hours and days of operation are almost endless! Talk to us about the development potential that also may be available STCA.
Key investment considerations include:
- Going concern and available with vacant possession
- Ability to operate, increase the offering, extend the trading hours and days of operation and enjoy all the upside, or
- Lease the property
- Both ground floor and first floor residence together
- Ground floor to an external operator, and
- First floor residence to another tenant who can have a separate entrance
- Situated at a prominent location on Military Road on the public transport route, with street parking nearby
- Only 5 minutes to North Sydney shopping and retail precinct with rail station
- Only 10 minutes by car to Sydney city
- Strong and loyal demand from its reputation and core followers that have been built over the 38 years that the vendor has been operating at this location
The Pickled Possum is being offered For Sale by an Expressions of Interest campaign.
For further information and/or to arrange an inspection, interested parties are invited to contact the exclusive selling agents from Deans Property.
Property History for 254 Military Rd, Neutral Bay, NSW 2089
- 24 Oct 2021Listed for Sale Contact Agent
- 10 May 2019Listed for Sale Contact Agent
- 06 Oct 2017Listed for Sale Contact Agent
Recent sales nearby
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About Neutral Bay 2089
The size of Neutral Bay is approximately 1.3 square kilometres. There are 20 parks, covering nearly 8.8% of the total area. The population of Neutral Bay in 2016 was 10488 people. By 2021 the population was 10090 showing a population decline of 3.8% in the area during that time. The predominant age group in Neutral Bay is 30-39 years. Households in Neutral Bay are primarily childless couples and are likely to be repaying over $4000 per month on mortgage repayments. In general, people in Neutral Bay work in a professional occupation.In 2021, 45.80% of the homes in Neutral Bay were owner-occupied compared with 44.90% in 2016.
Neutral Bay has 7,249 properties. Over the last 5 years, Houses in Neutral Bay have seen a -6.00% decrease in median value, while Units have seen a 9.97% increase. As at 31 May 2026:
- The median value for Houses in Neutral Bay is $2,920,895 while the median value for Units is $1,238,270.
- Houses have a median rent of $1,290 while Units have a median rent of $780.
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