On the site of the Fortune of War, Terry constructed a terrace of three buildings (today's 139-143 George Street) completed in the mid to late 1820s.

[1] From 1833 the publican of the Fortune of War was Walter Nottingham Palmer, where he remained until 1839 when he took over the licence of the New York Tavern, also on George Street.

[1] The bubonic plague broke out on the waterfront in January 1900, prompting the Government to resume the entire Rocks and Millers Point area.

Since that date leases have been granted to the following publicans:[1] Keyes was also one of the lessees of the Russell Hotel at 143 George Street and the operation of the two properties merged at this time.

The Fortune of War Hotel with its longstanding licence and retention of original bar and fittings contributes to The Rocks as a unique historic neighbourhood.

Externally, to George Street, original wall tiles, face brickwork, rendered trim, and terrazzo thresholds remain intact.

Internally, the general layout of public areas appears original, including features such as wall tiles, ceilings, central bar and other joinery.

[1] The Fortune of War Hotel and site are of State heritage significance for their historical and scientific cultural values.

[1] The site demonstrates longevity of European use that is historically associated with the early colonial development in Sydney in being part of the first general hospital (1788-1816) and part of a stone terrace erected for Samuel Terry in c. 1830 which became The Fortune of War Hotel[1] The building employs robust brick architecture typical of the 1920/30s.

Internally, the main public areas also retain much of their original form and detail, including the wall tile, bar and other joinery.

The Fortune of War Hotel and site are of State heritage significance for their historical and scientific cultural values.

The subsequent continuous use of the site as a hotel is closely associated with the later economic and social development of The Rocks area as a place of residence and travellers.

[1] The place is important in demonstrating aesthetic characteristics and/or a high degree of creative or technical achievement in New South Wales.

The building employs robust brick architecture typical of the 1920/30s as such it is an important example of an inter-war era hotel premises in the Federation Free Style that retains key features of licensed hotel architecture of the day in the wall tiles, bar area and joinery in general.

The item meets this criterion at a local level owing to rarity of type and integrity which has potential to reveal new information about the building and its stylistic attributes.

[1] The place possesses uncommon, rare or endangered aspects of the cultural or natural history of New South Wales.

The item meets this criterion at a state level as a unique example of an inter-war era licensed hotel that retains its public bar top hamper within one of the few authentic historic interiors in The Rocks accessible to the public,[1] The place is important in demonstrating the principal characteristics of a class of cultural or natural places/environments in New South Wales.