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News release


Industry stalwarts sell hotel​​

The Jannali Inn sold off-market

JLL's Hotel & Hospitality Group is proud to announce another off-market sale – The Jannali Inn, Jannali.

Family built in 1958 and owned by the long respected Durkin family, the sale of the Jannali Inn is a significant event for the industry at large. As founding Liquor Stax members, the Durkins are one of Sydney's longest serving hoteliers and first started in the 1930's at the Annandale Hotel and The Royal Sheaf at Burwood, following which they built many large suburban hotels. Under the Colonial Liquor brand, John Durkin retailed his own wines and fortified-wines in the late 1960's.

Director of JLL's Hotels & Hospitality Group – Investment Sales, John Musca, said, "It was an honour to represent the owners in this discrete mandate, as along with their impressive near 60 years of ownership, they have left such an indelible mark on the hotel industry."

The asset included 22 gaming machines and an attractive spread of revenues from retail, bars and gaming. The hotel also occupies a valuable 4249sqm site area with a 2:1 FSR, opposite Jannali Train Station, offering obvious future redevelopment potential.

"The decision to sell was a significant one and it is indeed the end of an era in some respects" said owner Carol Durkin. "I shall miss the generosity of our customers and their willing hands to fundraising when someone has fallen on hard times."

The sale comes at a time when a number of hotels have recently transacted for potential future mixed-use developments, including the high profile sale of the Bourbon and Mercure Hotels in Potts Point in circa $200 million of transactions to the Greenland Group and Iris Capital, and the sale of the Bull & Bush Hotel, Baulkham Hills to the Dyldan development group for $50 million.

Mrs Durkin stated, "JLL provided me comprehensive advice which assisted to make the decision and John Musca was recommended by my long time legal and accounting advisors. He proposed and implemented a discrete sale strategy that was handled in an exemplary fashion and I am particularly happy with the outcome".

The hotel was sold to interests associated with the Feros Family JDA Hotel group.