The Fortune of War Hotel, located at 143A George Street, consists of three businesses under the one lease including The Russell boutique hotel and The Russell Wine Bar and The Fortune of War pub. Currently, the leasehold is controlled by the Sydney Harbour Foreshore Authority (SHFA) until 2028 with a balance of a further 15 years remaining. 

 

Located near the bustle of George Street and the international cruise ship docking area, the property is perfectly positioned in the thriving tourist precinct of Sydney CBD.  The well-presented and maintained asset boasts 30 hotel rooms and 15 poker machines. 

 

Hotel Director at Knight Frank, Mike Wheatley said, “The property has not been on the market for 28 years and is a rare investment opportunity within a normally tightly held market in the Rocks. The asset is located within an area which has a high footfall for tourists and offers three solid businesses including boutique hotel accommodation with an average 80 per cent occupancy rate.”

 

“Another unique opportunity has arisen in The Rocks with the Irish pub, The Mercantile, going for auction this month. This is another asset which hasn’t been on the market for 28 years and provides a fantastic opportunity to secure Australia’s longest running Irish pub and a popular tourist’s drinking spot,” added Mr Wheatley.

 

Mike Wheatley of Knight Frank negotiated the deal.