JLL Hotels & Hospitality Group are delighted to announce the off-market sale of the freehold going concern interest in the Empire Hotel, Annandale to newly formed PUBLIC Hospitality Group.

Impressively reconfigured with a just-completed ground floor renovation, the hotel offers twenty-five shared facility accommodation rooms,16 valuable gaming entitlements, sought-after 3am trading approval and expansive additional workspaces with onsite parking.

Oscars Group divested the asset to focus on their larger hospitality complexes such as the newly relaunched Beachcomber Hotel in Toukley as well as their recently acquired Oakwood Hotel & Apartments in Brisbane and Long Island Resort assets in far North Queensland.

The Empire will be operated by new inner-city boutique hotel group ‘The People’ with founders Paul Schulte and Andrew Taylor excited to add the venue to their rapidly growing portfolio of city fringe hotels across the eastern seaboard. These include the Arts Hotel Paddington, Camelia Grove Hotel, Alexandria and Strand Hotel, Darlinghurst. These properties will all be part of 14 owned and/or operated properties that will soon launch as the PUBLIC Hospitality Group, which is focused on becoming Australia’s’ premier millennial lifestyle network of hospitality venues.

“Millennials are looking for a local option which is affordable and approachable, but aspirational in terms of the lifestyle perks and options”, Mr Taylor said. “They are seeking cool neighbourhoods”.

John Musca, Managing Director at JLL Hotels & Hospitality Group, suggested that “The transaction recognized the very different investment drivers of two industry investment houses, with a convergence of needs enabling both parties to achieve a desired outcome”.

“With over $200m of pub sales reported over the past 4 weeks alone, the capital momentum continues unabated in an environment of industry consolidation and amidst the excitement of post lockdown reopening”, he suggested. “The spread of balance sheet profiles seeking sector capital deployment opportunities is imposing”.

PUBLIC Hospitality Group Founder Jon Adgemis, said “We’re delighted to have acquired a second hotel from the Oscars Group through JLL Hotels and to add another perfectly suited and ideally located venue to our portfolio of city fringe lifestyle properties”.

To request a sales analysis please contact the selling agents via the below contact details.