Hotel operator Fraser Short has bought one of Australia’s oldest hospitality venues, The Sir George Hotel in the New South Wales town of Jugiong for a reported $14 million.
Built in 1845, the hotel offers 11 luxury accommodation suites, artisan bakery, retail store, restaurant and a bar.
The hotel is known for being the longest singularly held liquor license establishment in Australia, spanning over 165 years.
It is located three hours from Sydney along the Hume Highway on the Sydney-Melbourne and Canberra-Wagga Wagga corridor.
Short, who owns The Farm at Byron Bay and Watsons Bay Boutique Hotel on Sydney Harbour, purchased the venue from mother-daughter ownership duo Liz Prater and Kate Hufton.
Short said The Sir George was an iconic operation that represented everything good about country NSW.
“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,” he said.
Prater and Hufton, who acquired the hotel back in 2015, said they were proud to have resurrected such a beautiful old hotel and created a thriving business for so many people to enjoy.
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,” Gibson said.
There were more than 200 enquiries for the campaign, with terms being agreed prior to the Expressions of Interest due date.