The NSW pub market is heating up with the newest listing on the market sure to attract the interest of astute hoteliers and property investors. JLL Hotels and Hospitality Group in conjunction with IB Property have exclusively listed the endearing Unicorn Hotel on Oxford Street in Sydney’s affluent Paddington, to be sold via an Expressions of Interest campaign.

Steering the marketing campaign is JLL’s Executive Vice President, Ben McDonald and Senior Vice President, Kate MacDonald along with IB Property Managing Director, Steffan Ippolito.

Affectionately known as ‘Fringe Bar’ and famed for its Monday night comedy acts and eastern suburbs socialite crowd, the freehold going concern is being offered to the market for the first time in over 15 years with the freehold owner and lessee coming together at a time when investment fundamentals including underlying property values are carrying greater weight with investors.

Situated on Oxford Street proximate to Glenmore Road’s high fashion retailers and a swathe of redevelopment projects including the Verona Cinema redevelopment and the luxurious 25 Hours Hotel set to open later this year, the Unicorn is ideally placed to capitalise on the near-term uptick in patron density and precinct hype as the location continues its impressive transformation.

More recently operated by the team behind the delectable Mary’s Burgers, JLL’s Ben McDonald highlights the incredible repositioning opportunity on offer.

“The Unicorn is certainly one of those pubs that evokes an emotive response from those that know it. Available at a time when the market has a greater focus on food and beverage operations with unique branding opportunities and in a precinct that is currently undergoing significant transformation – it’s extremely exciting and we anticipate the market will respond accordingly.”

JLL’s Kate MacDonald highlighted the lack of hotel opportunities in Sydney’s East as a key drawcard of the listing.

“We are frequently asked for pubs in the Eastern Suburbs, but the fact is there are very limited opportunities in that location especially at such an attractive price point. There has been a real consolidation thematic play out and for good reason – these hotels are great businesses.”

The Expressions of Interest campaign launches today and is set to close at 12pm on Tuesday 26 March 2024 (unless sold prior).

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The Fabled Unicorn Hotel in Sydney’s Paddington for sale by JLL & IB Property