JLL Hotels & Hospitality Group announce the sale of the long-term leasehold interest in Dunkirk Hotel, Pyrmont on behalf of the privately held Shogroup, owned and operated by Mr James Wynne.

The off-market sale was facilitated by JLL Senior Vice President Kate MacDonald and signifies a shift in transaction pace for the hotel market in Sydney after the announcement of the sale of the iconic Imperial Hotel in Erskineville by JLL last week.

Situated on Harris Street in Pyrmont, the Dunkirk Hotel underwent a significant renovation over two years following the on-set of COVID-19, including a striking upgrade to the façade, expanding and enhancing the gaming room, and refurbishing the 12 accommodation rooms.   Following this transformation, the hotel experienced a 400% uplift in revenue across all departments resulting in a substantial EBITDA improvement. This turnaround highlights the strength of the business itself as well as the growth prospects of Pyrmont as a destination as it continues to leverage off significant development projects in the area including Mirvac’s transformation of Darling Harbour currently underway, Pyrmont’s newly approved Metro Station and the planned revitalisation of Sydney’s Fish Markets.  

The purchaser, a private investor with hotel interests in Sydney’s CBD as well as across regional NSW, has acquired the hotel which comes with an approved DA to construct a rooftop beer garden with retractable roof - expected to be a ‘game-changer’ for the hotel and further enhance the business’ trading proposition.

Discussing his relatively short-term ownership of the business, Mr Wynne stated, “The hotel has undergone many changes, and we are thrilled with the remarkable turnaround in only 2.5 years of trading. We want to thank our passionate and loyal team, our regulars, and of course we wish the purchaser all the best in taking this outstanding pub to the next level.”

Commenting on the sale, JLL Hotels Senior Vice President Kate MacDonald added, “The Dunkirk presents a lot of exciting future opportunity with regards to its location, between The Star and the Sydney Fish Markets development, recent quality upgrades to the building, an approved DA to increase F&B patronage, and of course a strong revenue foundation across all departments. In the current interest rate environment, investing in a long-term lease appears to be of increasing appeal to astute hoteliers looking to boost cash flow within portfolios.”

To request further information please contact the selling agent JLL Hotels Senior Vice President Kate MacDonald via the contact details below.

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The Dunkirk Hotel leasehold sold by JLL Hotels & Hospitality Group