The beloved ‘Shaky’ Shakespeare Hotel of Surry Hills, operated by legend Margaret Hargreaves for nearly half a century, has sold to the proprietor of Balmain’s The London.
The hotel was established in 1879, found on Devonshire Street just 300 meters from Central Station. It now enjoys close proximity to the Surry Hills Light Rail stop, between the Crown Street culinary hub and the upcoming Central Precinct development.
Popularly known as ‘The Shakey’ it features on the ground floor a popular public bar with TAB, separate dining area, and gaming room with 10 machines. Upstairs there is another bar and six boutique accommodation rooms, uniquely decorated to provide an immersive experience.
The historic pub is famous for its old-world charm, lined with vintage wallpaper and tapestries, and dazzling blue tiles encasing the main bar.
Hargreaves began as a publican leasing The Shakey in 1975, before acquiring the freehold three years later, moving her husband and four small children into the pub for a while as she focused on the flourishing business.
In 2023 she made the difficult decision to divest, and after nearly fifty years will hand over the keys this month.
“There is nothing quite like the Shakey,” she says. “The pub has been very good to us, but the time is right for a fresh perspective.”
The sale campaign suggested the business would benefit from greater use of the “underutilised” accommodation, and is primed to take advantage of its proximity to the new Central Precinct technology hub, bringing thousands of workers.
It has been purchased now by Laurence Collins and family, for what sources say was around $10 million.
Collins currently owns and operates The London Hotel in Balmain, leased from industry veteran Ray Reilly. He reflected on the responsibility in taking over such an institution, and has little in the way of plans to change.
“This pub is incredibly important to the Surry Hills community. Everyone has a story about the Shakey, and I just want to carry forward the incredible legacy that Margaret has created.
“I am not intending to change the overall fabric of the hotel, as this is what makes it special for everyone who visits.”
The sale was through JLL Hotels’ Kate MacDonald, with colleagues John Musca and Greg Jeloudev, who report being “inundated with interest” but maintaining their mandate to find a buyer possessing not only strategic vision, but also an “unwavering commitment”.
“The Shakespeare Hotel truly is a Sydney hospitality icon, and I don’t think we could have found a better custodian in Laurence, who ultimately just adores the pub for everything that it offers the community,” MacDonald stated.
