Jon Adgemis’ heavily indebted Public Hospitality Group has put the Empire Hotel in Sydney’s inner western suburb of Annandale up for sale, the first asset from the portfolio on the market since the collapse of a refinancing deal with Bain Capital.
Late last year Mr Adgemis announced that Love Tilly Group’s Fabbrica and Maybe Sammy’s Maybe Frank would be opening outposts inside the Empire Hotel. Since then, the partnership with Love Tilly has collapsed and the Maybe Frank project stalled. The pub, located on Parramatta Road, will go to auction in May. Mr Adgemis has appointed Savills. The agent, ex-Wallaby Drew Mitchell, joined Savills earlier this month. He only acquired the Empire Hotel in 2021 from Oscars Hotels Group, the pub operator run by Bill and Mario Gravanis, for about $20 million.