JDA buys out Sydney hotel
The General Gordon Hotel, which is nearly rebuilt after being part destroyed by fire in 2018, has traded between owners.
JDA Hotels, backed by local publican John Feros, is acquiring control from White & Partners trustees.
The two purchased the venue, also known as “the pride of Sydenham” in 2017 from Lantern Hotel Group.
Last year they appointed HTL Property’s Andrew Jolliffe and Dan Dragicevich to run an off-market expressions of interest campaign to gauge value and possibly sell.
The price came in at c$30m.
“Having initiated the MBO style acquisition, we knew that…it would be in equal parts robust and transparent; and as such we could act deliberately and with the confidence that if we were the highest and best offer tabled, we’d be treated accordingly” JDA founder and managing director, Mr Feros, said (story continues below).
“We have enjoyed a long and favourable association with the hotel; and following the unintended hiatus, we are now super excited about the magnitude of not only the rebuild but also the vast potential contained in the area with its substantially enhanced transport services on our doorstop an unmistakable value underwriter,” he added.
At 20 Swain Street, Sydenham, opposite the train station, the venue is set to reopen in two months.
The suburb is eight kilometres south west of Sydney.
In 2016, JDA and White & Partners sold Mascot’s Tennyson Hotel to Justin Hemmes’ Merivale Group for $37.05m after paying $25m the year earlier then obtaining a redevelopment permit.
