JLL Hotels & Hospitality Group in conjunction with Savills Hotels has today announced the off-market sale of Sydney’s much loved Republic Hotel.

Standing prominently at the intersection of Pitt and Bridge Street at the northern end of Sydney’s CBD, the Republic was over the years well known for its high-flying finance crowd given its location directly opposite the ASX Headquarters on Bridge Street.

Today, the pub attracts a diverse clientele from all corners of the CBD and given its proximity to Circular Quay, the Sydney Harbour Bridge, and the Opera House, enjoys a steady flow of tourists past its front door which is set to grow further with the completion of the nearby Capella Sydney and new Waldorf Astoria Hotel.

JLL Hotels Managing Director, Ben McDonald and Senior Vice President, Kate MacDonald in conjunction with Savills National Director, Nick Lower, were responsible for the sale which sees the Republic join the portfolio of respected industry group, Thomas Hotels – headed up by Chris Thomas.

Drawn to the valuable underlying real estate supported by a strong multi-level hospitality business, the Thomas family look set to capitalise on the underutilised 24-hour hotel licence, 28 gaming machines and growing patron demand in the immediate vicinity as ‘return to work’ policies for corporates gather prominence and momentum through the CBD.

Commenting on the sale, Mr McDonald highlighted the renewed appetite for pub assets and transaction momentum in the market. “We are seeing greater capital demand for pubs right now as the trading environment continues to improve. This increased competition is opening several options for owners with our intimate knowledge of underbidder capital suggesting a genuine appetite for a variety of hospitality opportunities.”

"The sale of The Republic Hotel, with its rich history and prime corner position, reinforces the ongoing demand for strategically located hospitality assets in Sydney's CBD. We are delighted to have facilitated a successful transaction that showcases the resilience of the hospitality market in prime locations,” added Mr Lower.

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