Closely following their record setting $70m pub sale last week, JLL Hotels have today announced their 3rd pub sale in two weeks being the Unicorn Hotel, Paddington in Sydney’s affluent Eastern Suburbs.

Sold in conjunction with IB Property, the freehold and leasehold interests were brought together and offered to the market for the first time in 15 years attracting a wave of hospitality operators in the process.

Steering the sale campaign was JLL Executive Vice President, Ben McDonald and Senior Vice President, Kate MacDonald along with IB Property Director Steffan Ippolito.

Ms MacDonald highlighted the pub’s ability to conjure a sense of nostalgia with the market along with the untapped potential of the asset as key selling points during the process.

“There was certainly a lot of fond memories rehashed during the sale process from operators around the country. It was great to see.” Ms MacDonald noted.

The pub was sold on behalf of a private investor who purchased the property in 2020 and the team behind the Mary’s hospitality brand who owned the leasehold interest.

Commenting on the sale, the Mary’s team offered, “The Unicorn Hotel has been such a special and important part of our lives, a real dream scenario to have been at the helm of such a beautiful pub for over 7 years.  These next few months will be amazing for us to see all our friends and locals a few more times before the pub is handed to the next custodians as they guide the mythical beast towards its next iteration.”

The purchaser has been identified as JDA Hotels, led by brothers John and Dean Feros. Once settled, the Unicorn will add to an impressive stable of pubs across New South Wales and Queensland which includes the General Gordon, Padstow Park Hotel, Charlie Chans, Mermaid Beach Tavern and Gold Coast Tavern to name a few.

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JLL Hotels & Hospitality announce largest pub deal of 2024 with $70m transaction

 

Closely following their record setting $70m pub sale last week, JLL Hotels have today announced their 3rd pub sale in two weeks being the Unicorn Hotel Paddington sold by JLL agents Ben McDonald and Kate MacDonald along with IB Property’s Steffan Ippolito.