Sydney’s ‘most recognisable pub’ for sale
The famous ‘Shakey’ is up for sale.
Surry Hills icon the Shakespeare Hotel is set to change hands for the first time in 45 years, with well-known hospitality family the Hargeaves deciding to move on.
The pub’s trading was hit hard by the disastrous blow out of the light rail build on Devonshire St, but it has bounced back strongly.
In a market where pubs have proven to be very sought-after assets, the Shakespeare is likely to follow suit.
No guide has been offered but a price of around $12m has been bandied about.
“For more than 40 years our family has been an integral part of the fabric of Devonshire Street in Surry Hills, as owners and operators of two family pubs — The Shakespeare and The Strawberry Hills hotels,” publican Margaret Hargreaves wrote in a first-person piece for The Sunday Telegraph in 2018, as businesses in Surry Hills struggled with the light rail build.
“We are proud of our venues, and the role they play in this close-knit community.”
Last month the NSW Supreme Court, ruled that the state government had to pay damages to businesses affected by the delayed construction of the Sydney light rail, with more claims expected to follow.
The ‘Shakey’s owners were themselves forced to pay for some of the damage cause to business by the light rail construction but with project now well and truly finished the pub and the area has come to life once again.
“The Shakespeare Hotel represents possibly the last opportunity to acquire a long-term family held pub in Surry Hills with accommodation, gaming, food and beverage income capabilities,” said Senior Vice President Kate MacDonald of JLL Hotels, who have brought the pub to market.
“Established in 1879, the Shakey is arguably the most recognisable pub in Sydney, presenting old world charm at every turn. With considerable opportunity available in every department within the hotel, the undeniable strength of attributes will entice any astute operator,” the listing reads.
An EOI campaign for the property ends on August 22.