John Azar’s The Good Beer Co has sold its second east Sydney hotel in a week.
The Four in Hand at 105 Sutherland Street, Paddington, is trading for $8.25 million to another local publican set to take occupancy in January.
The vendor paid c$7m in 2018; at the time the c1878 double storey building at the south east corner of Elizabeth St was being marketed to residential developers.
It was later restored and repositioned.
Late celebrity agent and media commentator John Fordham, a patron, recently had a function room named in honour of him there (story continues below).
“It’s quite bittersweet selling the Four, it has such a great local and loyal following by and everyone loves it,” Mr Azar said.
“We wish the purchasers every success with it and look forward to seeing them down there”.
JLL Hotels & Hospitality Group’s Ben McDonald and John Mosca said their campaign attracted hospitality identities who had an affiliation with the asset.
The disposal ends a portfolio reweighting by The Good Beer Co which earlier this week sold Randwick’s Duke of Gloucester for $32m to Justin Hemmes’ Merivale Group.