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News release


Award-winning Surry Hills hotel for sale

Popular Dove & Olive Hotel hits the market

​​​​In a sign of the continued appetite for quality city-fringe hotels in burgeoning Surry Hills, JLL Hotels & Hospitality Group have been exclusively appointed to market the ever-popular Dove & Olive Hotel for sale by Expressions of Interest closing Thursday 26 August 2016.

Owned by the Good Beer Group 'The Dove' has rapidly established itself as one of the busiest local hotels in Sydney consistently generating over $100,000 per week in revenues. The hotel, with its craft beer and value-food following, includes 12 poker machines and sought-after position on bustling Devonshire Street - soon to benefit from the Sydney Metro Line Light Rail with a station metres away. Located on a prominent corner site the hotel has benefited from ongoing intensified apartment development in the area and Surry Hills' emergence as the premier food and beverage precinct in the city, with the hotel undisputedly one of Sydney's finest gastro pubs and winning a host of awards along the way.

John Musca, National Director – Investment Sales, JLL Hotels & Hospitality Group, suggested, " 'The Dove' is unique in that it will easily deliver astute purchasers a 10% + yield at purchase, a rarity in the food and beverage centric hotel space, with almost no risk and on a big revenue base, so it's really a big hotel opportunity on a manageable footprint." 

"It is an attractive acquisition that will easily value up and show an incredible return on equity day one." continued Mr Musca.

Much like the recent keenly contested sales of the Trinity Bar ($8.5 million ) and Royal Exhibition Hotel ($19 million ), both close by in Surry Hills, 'The Dove' is another quality inner-city hotel offering, which has reportedly been targeted by some of the bigger F&B hoteliers in Sydney.

Recent acquisitions by The Public House Group, Dixons Hospitality and the Balmain Brewing Company have driven strong interest in city fringe hotel opportunities with freehold properties ultimately sought-out on the busiest locations.

The Good Beer Group are redeploying capital to a huge renovation planned for their recently acquired Duke of Gloucester Hotel in Randwick.