Fortune of War hotel sells in the Rocks

Fortune of War hotel sells in the Rocks
Jonathan ChancellorDecember 7, 2020

The Fortune of War hotel – marketed as the oldest continuously licensed pub in Australia – has been sold after 26 years in the same hands.

Its reputed sale price is $4.3 million when bought by accountant Peter Walker. The Shout has reported that Walker was joined in the purchase by former C-Inc general manager Steven Speed.

The Fortune of War, which dates back to 1828, is part of a recently renovated hotel complex positioned opposite Circular Quay in Sydney. The actual George Street hotel is a three-storey facebrick building with stucco detailing built in 1922. The first recorded licensee of the public house was John Boreham who was the seller of wines, malt and liquor. In March 1976 Tooth & Co relinquished its head lease to the Sydney Cove Redevelopment Authority, and the lease has been with publican Robert Keyes since 1987.

Given its location in Sydney’s Rocks district it has prided itself on the reputation of being the first and last port of call for generations of Australian and visiting soldiers.

“With over 100k per week in revenue, it will be hotly pursued,” Jolliffe advised Property Observer.

Of course the claim of Sydney's oldest pub is also claimed by the more upmarket Lord Nelson. Fairfax Media writer Mark Chipperfield wrote the nearby Lord Nelson has the words "Sydney's Oldest Hotel" painted on its exterior in bold letters. Chipperfield noted on face value, the Lord Nelson's claim on the title of oldest pub seems unassailable: built in 1836 using sandstone blocks quarried from Observatory Hill, the pub has held its liquor licence continuously since May 1841. But there are some flaws in the claim including the building being initially built as a private residence for William Wells, a local merchant and publican, and only transformed into a hotel in 1841.

The offering ames with The Fortune of War Hotel, The Russell Hotel (which offers accommodation, pictured below) and The Russell Wine Bar (pictured above) at the Rocks. It sold through Ray White Hotels agent Andrew Jolliffe inconjunction with Mike Wheatley of Knight Frank, according to The Australia Financial Review.

Jonathan Chancellor

Jonathan Chancellor is one of Australia's most respected property journalists, having been at the top of the game since the early 1980s. Jonathan co-founded the property industry website Property Observer and has written for national and international publications.

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