Developments

Boutique hotel/pub in The Rocks sold

Peter Walker and a Sydney syndicate has purchased the lease of The Fortune of War Hotel in The Rocks for $4.3 million, including the three-star The Russell boutique hotel, The Russell Wine Bar and The Fortune War hotel.

The property has 30 hotel rooms.

The sale was conducted by Mike Wheatley of Knight Frank.

Mr Wheatley said it was the first time the hotel had been marketed in 28 years with The Rocks a tightly held market and has an average 80% occupancy rate.

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