Veteran Sue Cameron has sold her long-held landmark the Lord Roberts Hotel in Darlinghurst to an industry newcomer for $22.5 million.
Popularly known today as the ‘Lord Bob’, a public house named the Shannon Hotel was first established on the Stanley Street site in 1871. The Powell family secured a lease with Tooheys in 1901, and renamed it the Lord Roberts Hotel, in deference to the recently knighted British commander Field Marshal Frederick Sleigh Roberts.
The pub offers a large single service bar area, sports lounge with TAB and 17 gaming machines, and casual dining area. Upstairs is a formal dining area and service bar, opening to an alfresco terrace.
Sue Cameron secured her first hotel licence as the Cameron family took over the lease in 1975. In 1995 she bought the balance of the family’s interest, then the freehold, and an adjacent terrace to the rear in 2014.
The Darlinghurst precinct is set for significant development, and the Lord Roberts is central to a wave of proposals and construction.
“The sale of the famous Lord Bob at such a bullish price not only reflects the continued strength of the asset class, but also the ambitious development plans for the East Sydney precinct,” explains Savills Hotels’ Nick Butler, who brokered the deal with colleagues Selin Ince and Nick Lower.
Buyer of the Hotel is Adam Macfarlane, who is a new entrant to the sector. He brings plans for minor renovations, while acknowledging the importance of preserving the iconic building’s character.
Cameron listed the freehold going concern in May, marking the FGC’s first time to market in close to a century, and says she has enjoyed her time with Bob.
“As the long-term custodian of ‘The Lord’ I’ve felt very privileged to have served the very eclectic community of East Sydney; plenty of colourful characters have called this pub their local.”
Divestment of the Darlinghurst pub follows her acquisition of the Federal Hotel in Alstonville last year, also through Nick Butler.
“With the constant undercurrent of pubs being offered in an ‘off-market’ capacity, the sale of the Lord Roberts proved that well coordinated public campaigns are very effective in the current environment,” notes Butler.
