JLL Hotels & Hospitality Group is delighted to announce the successful sale of the leasehold interest of the Olympic Hotel in Sydney’s Paddington to former Newcastle publican, Wayne Lambert.

Located on the prominent corner of Regent Street and Moore Park Road, one of the Eastern Suburbs’ busiest thoroughfares, the hotel offers a public bar, large dining room with a separate bar, commercial kitchen and 15 poker machines currently residing in a non-smoking room. The accommodation rooms will remain under the management of the landlord.

Sitting on 533sqm, the Olympic Hotel stands to benefit significantly from the $828m redevelopment of the Sydney Football Stadium, the $2.9 billion light rail network and general revitalisation of the Moore Park precinct.

“I’m excited to return this heritage pub back to its former beauty. The hotel will provide a warm and friendly atmosphere for locals and visitors”, says Lambert.

JLL Hotels Vice President, Kate MacDonald managed the transaction for the landlord, and suggests the Sydney metro leasehold market is stronger than ever despite trading restrictions. 

“This transaction marks the third Sydney leasehold sale negotiated by the team at JLL Hotels in as many months, joining the recent sale of the Foresters Inn, Surry Hills and the Native Rose Hotel in Rozelle” notes MacDonald.

“Operators are still thirsty for trading opportunities especially in Sydney fringe and suburban locations. The Olympic has certainly seen some challenges over the years with the changing landscape of Paddington, but the near term prospects look significantly brighter and everyone will be thrilled to see this iconic Sydney pub come back to life.”

Amongst other things, Mr Lambert plans to significantly improve the external appeal of the building, enhance the gaming and wagering offering, and of course provide patrons with approachable food and beverage options - something the immediate area is crying out for.

“I’d like to thank Kate MacDonald from JLL for all her assistance and help in the process of arranging the purchase of the lease. The professional and ethical attitude from her and JLL was appreciated” offered Lambert.

For further information on this transaction, contact Kate MacDonald via the contact form below.

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