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48-50 Melbourne Street 3,196 SF Retail Condo Unit Offered at $679,535 in East Maitland, NSW 2323


Investment Highlights
- Heritage-listed icon with contemporary upgrades
- Longstanding liquor license among NSW’s oldest
Executive Summary
An iconic heritage building on Melbourne Street, the Old George and Dragon features elegant period architecture, generous room proportions, and versatile spaces complemented by sympathetic modern upgrades. Its central position and active hospitality use make it a sought-after commercial holding in East Maitland’s thriving precinct.
1 Unit Available
- Unit
- Unit Size
- Condo Use
- Price
- NOI
| Sale Type | Investment | No. Parking Spaces | 4 |
| Cap Rate | 4.93% | APN/Parcel ID | 101/DP1063918 |
| Sale Type | Investment |
| Cap Rate | 4.93% |
| No. Parking Spaces | 4 |
| APN/Parcel ID | 101/DP1063918 |
Description
The historic Old George and Dragon Hotel, an East Maitland landmark for nearly 190 years, offers a unique investment opportunity. With heritage charm and modern enhancements, the property currently operates as a high-end cocktail bar and eatery under one of NSW’s oldest liquor licenses. A DA approval allows seating for 66 patrons across grand, high-ceilinged rooms showcasing the building’s original character. Updated interiors feature a stylish central bar and contemporary finishes while honoring historical elements. Strong tenancy and enduring cultural appeal make this standout property a rare package combining rich history with income potential in a vibrant location.
Sale Notes
The Old George and Dragon Hotel presents a rare investment opportunity in one of East Maitland’s most distinguished heritage buildings. Originally established nearly 190 years ago, this landmark property seamlessly blends historic grandeur with modern functionality. Currently home to a high-end cocktail bar and eatery, the property benefits from one of the oldest liquor licenses in New South Wales and an existing DA approval for 66 seated patrons.
Featuring versatile internal spaces with high ceilings, elegant period details, and contemporary enhancements including a central bar, the asset offers strong tenancy and enduring appeal. Positioned within a high-profile Melbourne Street location, this property combines cultural significance with long-term commercial value in a vibrant regional center.
Featuring versatile internal spaces with high ceilings, elegant period details, and contemporary enhancements including a central bar, the asset offers strong tenancy and enduring appeal. Positioned within a high-profile Melbourne Street location, this property combines cultural significance with long-term commercial value in a vibrant regional center.
| Unit | Unit Size | Condo Use | Price | NOI |
| Unit 48 | 3,196 SF | Retail | $679,535 ($212.62/SF) | $33,476.04 |
Unit 48
| Unit Size |
| 3,196 SF |
| Condo Use |
| Retail |
| Price |
| $679,535 ($212.62/SF) |
| NOI |
| $33,476.04 |
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Map
Unit 48
| Unit Size | 3,196 SF |
| Condo Use | Retail |
| Price | $679,535 ($212.62/SF) |
| NOI | $33,476.04 |
| Sale Type | Investment |
| Cap Rate | 4.93% |
| No. Parking Spaces | 4 |
| APN/Parcel ID | 101/DP1063918 |
| Description | |
| The historic Old George and Dragon Hotel, an East Maitland landmark for nearly 190 years, offers a unique investment opportunity. With heritage charm and modern enhancements, the property currently operates as a high-end cocktail bar and eatery under one of NSW’s oldest liquor licenses. A DA approval allows seating for 66 patrons across grand, high-ceilinged rooms showcasing the building’s original character. Updated interiors feature a stylish central bar and contemporary finishes while honoring historical elements. Strong tenancy and enduring cultural appeal make this standout property a rare package combining rich history with income potential in a vibrant location.</li></ul> | |
| Sale Notes | |
| The Old George and Dragon Hotel presents a rare investment opportunity in one of East Maitland’s most distinguished heritage buildings. Originally established nearly 190 years ago, this landmark property seamlessly blends historic grandeur with modern functionality. Currently home to a high-end cocktail bar and eatery, the property benefits from one of the oldest liquor licenses in New South Wales and an existing DA approval for 66 seated patrons.<br> Featuring versatile internal spaces with high ceilings, elegant period details, and contemporary enhancements including a central bar, the asset offers strong tenancy and enduring appeal. Positioned within a high-profile Melbourne Street location, this property combines cultural significance with long-term commercial value in a vibrant regional center.</li></ul> |
Property Facts
The following property facts and amenities apply to the entire building. Details for individual condo units may vary and are listed in the unit information above.
| Total Building Size | 6,491 SF | Floors | 1 |
| Property Type | Retail (Condo) | Typical Floor Size | 6,491 SF |
| Building Class | C | Lot Size | 0.32 AC |
| Total Building Size | 6,491 SF |
| Property Type | Retail (Condo) |
| Building Class | C |
| Floors | 1 |
| Typical Floor Size | 6,491 SF |
| Lot Size | 0.32 AC |
Amenities
- 24 Hour Access
- Air Conditioning
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Videos
Matterport 3D Exterior
Matterport 3D Tour
Photos
Street View
Street
Map
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48-50 Melbourne Street
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