By Clyde Mooney

The oldest licensed pub in Australia is set to go under the hammer after nearly 25 years in the same hands.

The Fortune of War was established in Sydney in 1828 and prides itself on its long history of being the first and last port of call for generations of Australians and visiting soldiers.

Encompassing The Russell Hotel and The Russell Wine Bar at the Rocks, the Fortune of War is a thriving icon on Sydney’s harbourfront that is likely to generate a lot of interest.

The unique property is listed by Ray White Hotels, with Andrew Jolliffe heading enquiries.

Speaking to TheShout, Jolliffe says that he saw the market dynamics changing in October of 2011.

"We felt the gap between buyer and seller close at the end of Q1 last year, and from there we could see the value bounce in quality assets was far more likely than not.

"Relationships are key for us and selling someone a pub they will likely fail in or conversely stripping value from a vendor because the market conditions are unfavourable is not how or where we position our brand."

Following the sale of over 40 hotels in the past 12 months including the iconic Caringbah Inn last week, Jolliffe is currently selling the Banksia Hotel on the Princes Highway.

The Shout Team

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

Leave a comment

Your email address will not be published. Required fields are marked *