JLL Hotels and Hospitality Group has today announced the high-profile sale of the leasehold interest in the award winning ‘Jacksons on George’ Hotel in Sydney’s CBD. A key feature of Sydney Place, Lend Lease’s masterfully built new commercial precinct in Circular Quay, Jacksons on George is a mainstay of the CBD hospitality scene and one of Sydney’s most desirable hospitality institutions which has captured enormous attention since the much anticipated rebuild and opening in September 2023.

JLL Senior Vice President, Kate MacDonald and Managing Director, Ben McDonald were exclusively mandated to steer the off-market campaign on behalf of DTL Entertainment – a private syndicate led by hotelier Michael Broome and hospitality entrepreneur Maurice Terzini.

The purchaser has been identified as Gallagher Hotels, led by Patrick and Angela Gallagher. In an endearing turn of events, the sale sees the Gallagher family reunite with the hotel having previously operated the business for Lend Lease when they initially acquired the venue as part of the Sydney Place development journey.

Commenting on the sale, Mr Gallagher offered; “We are extremely excited about taking on this new and very exciting venture in such a dynamic location. Our Sons Austin and Jack Gallagher will be taking the lead here and we look forward to contributing to what is such a great part of the city.”

‘Jacksons’ has gone from strength to strength since the highly anticipated launch culminating in earning the coveted title of ‘Hotel of the Year’ at the Australian Hotel Association Awards in 2024. With arguably the best rooftop bar in the city and it’s hatted restaurant, Bistro George, on level one, the hotel has broad based appeal with patronage set to explode in line with a proximate commercial development pipeline including the new Waldorf Astoria Hotel, One Circular Quay luxury residential tower and 55 Pitt Street – Mirvac’s new office tower currently under construction.

Ms MacDonald noted; “The new award-winning Jackson’s on George provides the Gallagher team with an almost perfect scorecard of attributes. Its expansive size and prime location in the northern part of Sydney's CBD presents ongoing opportunities to leverage the immensely popular 'Sydney Place' development by Lend Lease, as well as the constant influx of tourists arriving on almost daily cruise ships. We’re delighted to see Patrick, Angela and family return to the site, and very much look forward to seeing them succeed in arguably one of Sydney’s most exciting venues.”

Having known and worked with the Gallagher family previously, DTL Entertainment Director Michael Broome offered; “The pub couldn’t go to a better person. Pat will make that thing hum even more than it is. We’re extremely happy with the result and couldn’t be more appreciative of the work Kate and Ben at JLL Hotels delivered. It certainly made the sale process a lot easier for us as a group.”  

Jacksons on George is the sixth CBD transaction for JLL Hotels within12 months, closely following the Republic Hotel, Edinburgh Castle Hotel, and Hotel Coronation among others, representing 100% market share of transaction activity in the coveted CBD pub market in that time.

Ben McDonald noted; “With renewed confidence in the legislative environment, an easing interest rate environment and heightened capital demand in the sector we anticipate an uptick in deal volumes through 2025 as owners take advantage of changing market conditions.”

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