By Vanessa Cavasinni, editor Australian Hotelier

Patrick Gallagher and John Daly are looking to sell their first venue together, in order to pursue larger projects.

The pair have put up for sale their inner west pub, PJ’s Leichhardt, with JLL Hotels & Hospitality Group appointed to run the EOI campaign.

Having undertaken over $2 million worth of renovations on the hotel in the past three years, the hotel is in good stead for prospective buyers, as Patrick Gallagher noted.

“It’s still growing in its gaming," he told TheShout. "There’s the opportunity with the function space upstairs, which is very large and has outdoor smoking areas. It also has a late-night licence that is not affected by the CBD lockout laws.”

“It’s also unique in its size in Leichhardt and holds the dominant position as the best pub in Leichhardt, located on the corner of Parramatta Road and Norton Street.”

John Musca, national director of JLL Hotels & Hospitality Group agrees that the Leichhardt hotel’s position is advantageous, as demonstrated by other recent Sydney sales.

“Much like the recent keenly contested sale of the Royal Exhibition Hotel, Surry Hills ($19 million) and the Duke of Gloucester Hotel in Randwick ($16.25 million), PJ's is another quality city fringe hotel which will deservedly attract strong interest.”

The hotel is situated on a 600sqm block, has 28 poker machines, 11 gaming permits and a 5am trading license.

Meanwhile, Gallagher and Daly will be looking to move on to bigger opportunities.

“It’s been a very successful relationship, so we want to trade up and work on something bigger,” Gallagher stated.

The EOI campaign for PJ’s Leichhardt will close on Thursday 7 April 2016.

The Shout Team

The leading online news service for Australia's beer, wine, spirits and hospitality industries.

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