JLL Hotels & Hospitality Group has announced the off-market sale of the St. George Hotel, Belmore for $47.1 million.

Ranked and recognised amoungst the highest echelon of gaming-centric hotels, the St George Hotel enjoys a high-profile corner position, 30 EGMs, public and sports bars and substantial car parking on a 1,752m² site. 

JLL Hotels & Hospitality Group National Director John Musca said select group of potential buyers were invited to submit a bid.

"At that sort of price point, you are only approaching qualified candidates that have the balance sheet strength to complete a transaction at this level, and have a track record of comparable assets," he said.

Notwithstanding the unequivocal pedigree of the business, planning guidelines also suggest that the property offers future circa six storey mixed-use development scope (STCA).

Mr Musca said the sale was another example of the irreplaceable value afforded to the very best assets across the densely populated Sydney metropolitan area.

"The market continues to be really strong," he said.

"Trade remains robust and there are high barriers to entry.

"There continues to be parties looking to expand their portfolios, so we can see this strength continuing into next year."

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