Good Beer Company purchases the Commodore Hotel
The Good Beer Company has purchased the landmark Commodore Hotel at McMahons Point in a strategic addition to its growing portfolio of established suburban hotels.
The move comes hot on the heels of the group’s late 2018 purchase of Paddington’s iconic Four In Hand Hotel to add to its ownership of Randwick’s Duke of Gloucester Hotel and the Keg & Brew Hotel at Surry Hills, which is close to completing a $10 million refurbishment.
“I have long admired the Commodore and have been monitoring the opportunity to add such a well-established and highly performing asset to our group of properties,” said Good Beer Company’s owner, John Azar.
The Blues Point Road hotel, situated on the edge of the North Sydney commercial district and in the heart of the popular McMahon’s Point residential and shopping village, was purchased for an undisclosed price from Graham Campion, who has owned the Commodore for the past three years and who also owns another popular North Shore watering hole, the Longueville Hotel.
The Commodore features an indoor bar, an expansive outdoor terrace, restaurant and gaming lounge. The purchase also includes an adjoining liquor store.
“Importantly, the purchase will provide us with a springboard into the lower North Shore residential and business communities,” said Mr Azar.
“Our plan will be to reinvigorate what the Commodore offers in terms of delivering a first-class, affordable and quality beverage and food experience reflecting the success we have achieved at our other hotels”.
The sale was negotiated by John Musca, JLL National Director. “It was a pleasure matching a purchaser’s strategic investment requirements with the motivations of respected industry stakeholders, in another off-market transaction,” Mr Musca said.
JLL Hotels, 1st August 2019
