Record Pub Sale by HTL Property Announced
Leading national brokerage firm HTL Property today announces the successful sale of the flagship Tea Gardens Hotel in Sydney’s Bondi Junction, on behalf of its valued clients, the highly regarded Purkis family.
“We have thoroughly enjoyed our time owning and operating this significant hotel, and wish the Ryan family every success moving forward” advised Vendor, John Purkis.
The off market sale of the multi-storey large format hotel to respected hoteliers John and Sally Ryan, was conducted by HTL’s Managing Director, Andrew Jolliffe.
Owned by the Purkis family for 10 years, the hotel is encased by an amalgam of retail offerings in the form of both Westfields Bondi and Myer; the magnetic Easts Club, as well as major transport interchanges incorporating bus and rail.
“Bondi Junction is, in and of itself, a bustling CBD; and in the sparsely represented hotel landscape that is Sydney’s Eastern Suburbs, the Tea Gardens enjoys an iconic status borne from a history of extraordinarily reliable and voluminous multi-departmental revenue generation” advised HTL Property Managing Director, Andrew Jolliffe.
The sale of the Tea Gardens Hotel, the record sale nationally for 2024, was conducted by HTL Property on an off- market basis.
“A series of discreet discussions held over a very short period of time, has lead to the largest single pub sale nationally for 2024. As such we are delighted to have matched our valued clients in the form of the Purkis and Ryan families respectively, in order to conclude a transaction so mutually favourable to both” Jolliffe added.
The record sale of the Tea Gardens Hotel, brings HTL’s market share for Sydney hotel sales this calendar year to in excess of 90%.
HTL Property, 22nd August 2024
