North Shore landmark the North Sydney Hotel, aka Percy’s, has been sold by long-time owners the Davis’ to Kent Walker’s Lesday as the precinct approaches re-entry into the rugby league rodeo.
Situated on upper Miller Street, across from North Sydney Oval and St Leonards Park, the large-format two-level hotel was established in 1927, occupying a roughly 1,201sqm corner site.
It provides a public bar, large bistro, gaming room with 25 machines, 12 recently renovated and ensuited accommodation rooms overlooking the parkland, and a drive-through bottleshop, generating reported annual revenues exceeding $6.5 million.
Athol and Lee Davis, who previously also ran the Great Northern in Chatswood and Jackson’s on George in the Sydney CBD, have owned and operated the pub since the late 90s.
The sale of Percy’s represents their exit from the game.
“The North Sydney Hotel has been such a central part of mine and my wife Lee’s life over the past three decades, and whilst reluctant to let it go, we do so knowing it is in fine hands,” says Athol, who is considered one of the industry’s true gentlemen.
North Sydney is one of the largest concentrations of office employment in Australia outside the Sydney CBD and is currently undergoing the largest commercial transformations in its history, bringing the new Victoria Cross underground metro station and billions of dollars of office and mixed-use developments.
On the cusp of its centenary, the North Sydney venue is central to an “explosion” in residential dwellings in the area and will undoubtedly benefit from new National Rugby League team the Perth Bears, joining the competition in 2027, who are slated to play games each year at the old Bears’ home ground, North Sydney Oval.
The Hotel has been acquired by respected hoteliers Kent and Desley Walker for close to $30 million, who are understood to already have plans in mind for the celebrated local.
“We’re delighted to have acquired such a stately, historic hotel from such a highly regarded family,” offers Kent.
Lesday Hotel Group was founded by Kent’s father, the late Les Walker. The group holds a suite of pubs around greater Sydney, counting the Seven Hills and Pennant Hills hotels, Riverside Inn and St George Tavern, and most recently the Captain Cook Hotel in Botany, bought in 2024 for around $35 million from Fanatic and industry legend Warren Livingstone.
More recently, in mid-2025, North Sydney saw the big-ticket sale of the Firehouse Hotel, to Sonnel Hospitality, for circa $35 million.
An off-market sales campaign on the freehold going concern of Percy’s was managed by HTL Property’s Andrew Jolliffe and Dan Dragicevich, who note it is a “truly rare” asset underpinned by its underlying real estate value, strong accommodation trade and future demand potential.
“With such strong fundamentals, there are various avenues for future activation, including the installation of a beer garden in what is currently the drive-through bottleshop, to capitalise on the considerable development occurring throughout the North Sydney and Crows Nest precincts,” suggests Dragicevich.
Jolliffe adds that pubs like the NSH demand attention courtesy of their “magnetic” appeal and strong trading history under the Davis’, who he says “epitomised what it means to be a hotelier, and have done so effortlessly over the last three decades”.
