JLL Hotels & Hospitality Group have today announced the sale of one of Sydney’s most popular inner-city pubs, the Shakespeare Hotel in Surry Hills, for an undisclosed amount.

The Shakespeare Hotel, fondly known as 'the Shakey,' holds a significant place in Sydney's hospitality scene. Located on Devonshire Street, just 300 meters from Central Station, it has a rich history and has been cherished by locals and visitors alike, drawn to the eclectic establishment.

The property boasts a popular ground floor public bar including TAB facilities, a separate dining area and outdoor gaming room with 10 gaming machines in a Band 2 location.

The first floor includes a second bar, ideal for functions and special events, and six boutique accommodation rooms on the top floor, all uniquely decorated to provide guests with a truly immersive and unforgettable stay in Sydney.

After almost 50 years, industry trailblazer Margaret Hargreaves made the difficult decision to divest the asset. Mrs Hargreaves started her career as a publican with a lease of the Shakey in 1975 and after acquiring the freehold in 1978, moved her husband and four small children into the pub for three months to focus direct attention on the new flourishing business.

When discussing the sale, Mrs Hargreaves noted the bittersweet notion of handing over the keys in mid-September; “There is nothing quite like the Shakey. The pub has been very good to us, but the time is right for a fresh perspective.”

JLL Senior Vice President, Kate MacDonald managed the sale on behalf of Mrs Hargreaves with the assistance of Executive Director John Musca, and Vice President Greg Jeloudev.  The proud new owner is Laurence Collins and family who currently own and operate the leasehold interest of The London Hotel in Balmain.

Commenting on the opportunity, Mr. Collins reflects on a certain level of responsibility in taking over such an institution; “This pub is incredibly important to the Surry Hills community. Everyone has a story about the Shakey, and I just want to carry forward the incredible legacy that Margaret has created. I am not intending to change the overall fabric of the hotel, as this is what makes it special for everyone who visits.”

Commenting on the sale, JLL Hotels Senior Vice President Kate MacDonald noted; “The Shakespeare Hotel truly is a Sydney hospitality icon, and I don’t think we could have found a better custodian in Laurence, who ultimately just adores the pub for everything that it offers the community. We were inundated with interest from the market, but it was imperative that the buyer not only possess a strategic vision for the future, but also an unwavering commitment to honouring its storied past.”

With this sale JLL has proven their market leading position as advisors in the sale of long-term held hotel assets in Australia. 

Along with the Lord Nelson Brewery Hotel in the Rocks, the Shakey is the second sale in as many weeks for a Sydney metropolitan pub sold after more than 40 years of private ownership, managed by JLL.

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