The newly-formed Public Hospitality Group has bought the freehold of the Empire Hotel, Annandale in an off-market sale by JLL Hotels & Hospitality Group.

The Empire will be operated by new inner-city boutique hotel group ‘The People’ with founders Paul Schulte and Andrew Taylor adding the venue to their rapidly growing portfolio of city fringe hotels across the eastern seaboard. These include the Arts Hotel Paddington, Camelia Grove Hotel, Alexandria and Strand Hotel, Darlinghurst.

These properties will all be part of 14 owned and/or operated properties that will soon launch as the Public Hospitality Group, which is focused on becoming Australia’s’ premier millennial lifestyle network of hospitality venues.

“Millennials are looking for a local option which is affordable and approachable, but aspirational in terms of the lifestyle perks and options,” Taylor said. “They are seeking cool neighbourhoods.”

The Empire has just completed a ground-floor renovation and offers 25 shared facility accommodation rooms, 16 gaming entitlements, 3am trading approval and expansive additional workspaces with onsite parking.

Oscars Group divested the asset to focus on their larger hospitality complexes in Queensland and regional New South Wales, and JLL’s Managing Director, John Musca said: The transaction recognized the very different investment drivers of two industry investment houses, with a convergence of needs enabling both parties to achieve a desired outcome.”

He added: “With over $200m of pub sales reported over the past four weeks alone, the capital momentum continues unabated in an environment of industry consolidation and amidst the excitement of post lockdown reopening. The spread of balance sheet profiles seeking sector capital deployment opportunities is imposing.”

Public Hospitality Group Founder Jon Adgemis, said: “We’re delighted to have acquired a second hotel from the Oscars Group through JLL Hotels and to add another perfectly suited and ideally located venue to our portfolio of city fringe lifestyle properties.”

Andy Young

Andy joined Intermedia as Editor of TheShout in 2015, writing news on a daily basis and also writing features for National Liquor News. Now Managing Editor of both TheShout and Bars and Clubs.

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