Sir George Hotel Jugiong sold for regional record - CBRE
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Sir George Hotel Jugiong sold for regional record - CBRE
One of Australia’s oldest and most iconic hospitality venues, The Sir George Hotel in Jugiong, has sold by Tom Gibson and Paul Fraser of CBRE Hotels to long time publican and hotel operator Fraser Short for $14 million.
One of Australia’s oldest and most iconic hospitality venues, The Sir George Hotel in Jugiong, has sold to long time publican and hotel operator Fraser Short.
Short is the owner of The Farm at Byron Bay and Watsons Bay Boutique Hotel on Sydney Harbour as well as operating several venues across NSW. Short and his team will take the reins of The Sir George from mother-daughter ownership duo Liz Prater and Kate Hufton in February of 2022.
“The Sir George is an iconic operation that represents everything good about country New South Wales”, Mr Short said
“I am very excited to bring this rare gem into our group and carry the baton on from Kate and Liz who have done an immaculate job in bringing this hotel, its gardens and historic buildings back to life for the community and tourists of Jugiong.”
The Sir George is a popular stopover destination with 10 beautifully appointed farmhouses, delicious country style food and beverage on offer and it’s situated three hours from Sydney along the Hume Highway on the Sydney-Melbourne and Canberra-Wagga Wagga corridor.
Built in 1845, the hotel is famous for being the longest singularly held liquor license establishment in Australia, spanning over 165 years. It offers a diverse hospitality operation, including 11 luxury accommodation suites, artisan bakery, retail store, restaurant and bar.
Owners Liz Prater and Kate Hufton, who acquired the hotel back in 2015, said, “We are so proud to have resurrected such a beautiful old hotel and created a thriving business for so many people to enjoy. We are sure that Fraser will do a fantastic job and take The Sir George to new levels, like he has in so many of his other venues.”
The sales campaign was managed and negotiated by Tom Gibson and Paul Fraser of CBRE Hotels.
“The deal represented a price per key record for regional NSW and highlights the strength of the market for quality tourism assets that offer solid investment fundamentals,” Mr Gibson said.
The campaign attracted widespread national interest with over 200 enquiries and terms being agreed prior to the Expressions of Interest due date.
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