PJ Gallagher's Leichhardt hotel sold

Patrick Gallagher and John Daly have sold PJ Gallagher’s in Leichhardt for $14.5 million to the hotelier Peter Walker.

Situated on the corner of Norton Street and Parramatta Road, it was the first venue co-owned by Gallagher and Daly.

It has been sold to raise capital for a larger as yet undecided joint project.

Gallagher and Daly completed a three-year, $2 million renovation on the hotel last year. The hotel also has 28 gaming machines and a 5am trading licence.

John Musca, national director of JLL Hotels & Hospitality handled the sale.

“Much like the recent contested sales of the Royal Exhibition Hotel, Surry Hills ($19m) and the Duke of Gloucester Hotel, Randwick ($16.25m), PJ's is another quality city fringe hotel which deservedly attracted strong interest," Musca told The Shout.

Last month, JLL Hotels & Hospitality also sold the leaseholds in the Liverpool Hotel and Corner Pub for Gallagher Hotels for a combined $12.5 million, so that the group can focus on freeholds.