Neutral Bay The Oaks Hotel sold to Mosman family by JLL
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Neutral Bay The Oaks Hotel sold to Mosman family by JLL
Widely considered the greatest hotel in Australia, The Oaks Hotel sold to a Mosman family pub near the asking price of $175 million by JLL Hotels & Hospitality Group JLL Managing Director John Musca and JLL Senior Vice President Ben McDonald.
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The Oaks Hotel Neutral Bay sold by JLL. -
The Oaks Hotel Neutral Bay sold by JLL. -
The Oaks Hotel Neutral Bay sold by JLL. -
The Oaks Hotel Neutral Bay sold by JLL.
Widely considered the greatest hotel in Australia, The Oaks Hotel sold on Thursday to a Mosman family pub near the asking price of $175 million by JLL Hotels & Hospitality Group JLL Managing Director John Musca and JLL Senior Vice President Ben McDonald.
JLL Senior Vice President Ben McDonald told The Hotel Conversation, "it is one of the most significant hotel transactions in history".
JLL Managing Director John Musca said, “I can confirm it has sold to a local family and long-time patrons of The Oaks,” he said, “it is expected to settle soon, and you will see continuity of this wonderful, community business.”
The family’s ownership of the hotel commenced in 1975 when David acquired the leasehold interest in the hotel, with support from his mother Alala, from Tooth & Co. They have lovingly and meticulously expanded and grown the landmark over nearly 50 years of family operation. Idolised for the famous beer garden and 80-year-old English Oak tree, the venue today represents one of the largest multifaceted hotels in the country. The hotel remains the drinking establishment of choice for many famous identities and sports stars and houses the John Meillon OBE Bar, named after the renowned actor.
The Oaks also resides on a prominent 2,188sqm site with an ideal B4 Mixed Use zoning and favorable planning guidelines allowing for up to a 5-storey development (STCA), highlighting the significant value-add potential of the asset. The venue includes Taffy’s Sports Bar, Alala’s Cocktail Bar, Bar & Grill Restaurant, famous large beer garden, gaming room with 30 poker machines, extensive first floor function spaces and high-end retail bottle shop.
JLL Managing Director John Musca suggested, “As in all real estate sectors the premier assets often only come to market once in a lifetime, which is even more prevalent in the highly protected hotel industry where assets of this scale and quality will simply never be approved or replicated again in high-end Sydney demographic locations – we’re fundamentally talking about one of the very best hotels in the asset class”.
For more information on the sale please contact one of the marketing agents JLL Hotels & Hospitality Group JLL Managing Director John Musca and JLL Senior Vice President Ben McDonald, via the contact details below.
Related Reading:
195 year old Sydney waterfront hotel sold by HTL | The Hotel Conversation
