After much speculation and more than 200 buyer inquiries, the new owner of The Sir George Hotel in Jugiong has been revealed.
Long-time publican and hotel operator Fraser Short has taken over the historic NSW hotel for a reported $14 million.
Mr Short, who also owns The Farm at Byron Bay and Watsons Bay Boutique Hotel in Sydney, will officially take ownership in February 2022.
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Built in 1845, the hotel was purchased by mother-daughter duo Liz Prater and Kate Hufton in 2015.
Together, the pair transformed the rundown pub into a must-do for regional travellers.
In a statement, Mr Short said The Sir George represents "everything good about country NSW".
"I am very excited to bring this rare gem into our group and carry the baton on from Kate and Liz who have done an immaculate job in bringing this hotel, its gardens and historic buildings back to life for the community and tourists of Jugiong," he said.
Today, the business generates in excess of $5.5 million [per year] across the restaurant and bar, retail store, bakery, accommodation and sprawling gardens that play host to weddings and events.
Ms Prater and Ms Hufton put the hotel up for sale in September saying it was time to prioritise family and take a step back from the demands of running a hospitality business.
In a statement, the duo said they are proud to have turned the old hotel into a thriving business.
"We are sure that Fraser will do a fantastic job and take The Sir George to new levels, like he has in so many of his other venues," they said.
The sales campaign was managed by Tom Gibson and Paul Fraser of CBRE Hotels and received widespread national interest.
"The deal represented a price per key record for regional NSW and highlights the strength of the market for quality tourism assets that offer solid investment fundamentals," Mr Gibson said.
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