The Local sells for $2.5m

Leederville-based syndicator Scope Property Group has added The Local Hotel in South Fremantle to its portfolio, buying the freehold of the historic watering hole in a deal worth $2.5 million.

The hotel, which was formerly known as the Seaview Tavern and was built in 1897, was renamed and repositioned by publican Phil Thompson and his business partner Ross Macpherson, who took over the lease last year.

Messrs Thompson and Macpherson reopened the pub as The Local Hotel last September, following an extensive renovation, and will continue to run it.

The freehold was previously held by a private family company Arkbay Holdings.

The acquisition increases the value of Scope’s portfolio, which comprises a range of retail, commercial and industrial assets across the city, to around $67 million.

"We are pleased to have acquired an iconic hotel in a premium location which will provide investors with secure, long-term returns," Scope director Robert Engelhard said.

“It has been a pleasure being able to work with hospitality professionals such as Phil and Ross and to see such a transformation in their business.”

When it was known as the Seaview, the hotel was associated for a stretch with Fremantle Dockers players Matthew Pavlich and Paul Hasleby.