After going on the market last year, the iconic heritage building will be owned and operated by Night Owl Entertainment Group once Saracen have completed the restoration and development works on the site, including the construction of a new apartment complex at the rear of the site. Night Owl are excited to see the historic building transformed with a craft food and beverage production space, a small bar, a communal open space, with the historic horse stables to be converted into a cellar restaurant.
For the first time in 45 years, it will also include a working hotel.
Realmark Commercial Director of Retail Sales and Leasing, Michael Richardson, has been working in unison with Saracen and is ecstatic to see their efforts finally coming to fruition.
“Development projects are always exciting, but working with a historical building such as The Royal George presents an added range of challenges that require extra attention,” Mr Richardson said.
“This was where ensuring regular, open communication with the developer and our team was upkept, in order to give this project its best chance of success.”
Working in tandem with Mr Richardson, Realmark Commercial Director of Office Sales and Leasing, Brent Griffiths, explained the team’s diverse experience put them in good stead to not only execute a sound marketing campaign but identify and target the right buyers for the property.
“As The Royal George is such a unique property, we knew there would be a short buy base, so we ran a six-week off-market campaign with a list of 20 or so operators we knew who may be interested, then an eight week on-market campaign utilising a range of media platforms,” Mr Griffiths said.
“When first announcing the development, the property garnered national attention, but at the time interstate buyers could not come into WA due to Covid restrictions.
“Ultimately, we were able to secure a fantastic local buyer in Night Owl, who have a vast amount of experience in the hospitality industry; operating venues such as Flight Club, Magnet House, The Lookout and Print Hall to name a few, with The Royal George positioned as a coming of age for the group.”
Mr Richardson acknowledged there is plenty of work to be done on the project but is looking forward to what this development will do for the local area.
“A landmark property such as The Royal George deserves a new lease on life, and this development will not only deliver this, but will breathe new energy into East Fremantle at the same time.”