ICONIC PUBS HIT THE MARKET AROUND THE COUNTRY
Unity Hall Hotel, Balmain
The John Singleton and Geoff Dixon owned Unity Hall Hotel in Balmain is on the market. The sale of this hotel is the last in the Australian Pub Fund portfolio. The focus of the Australian Pub Fund was to buy financially distressed hotels, renovate and operate them and place them back on the market for sale as a going concern, taking advantage of a rise in demand for solid commercial hotels. At the peak of their company operations they owned 11 hotels with the Unity Hall Hotel the last to be up for sale.
The Unity Hall Hotel is expected to reach a value of $25milion.
The Byron Bay Hotel
The Melbourne-based Impact Investment Group purchased the Byron Bay’s Beach Hotel for $70 million only 2 years ago. It’s the second time the hotel has been on the market since it was built in the 1990s by John “Strop” Cornell. The hotel is well-known to anyone who has visited the north coast of NSW and overlooks Byron Bay’s Main Beach.
The Beach Hotel in Byron Bay will hit the market with expectations of a $100 million-plus sale.
Vegas Hotel Kings Cross
Since the start of the lock out laws the value of hotels in Kings Cross has declined and none have hit the market since 2015… until now with the Vegas Hotel recently sold for $32 million. Despite the business concerns over the lockout laws the Vegas remains a strong gaming venue. Lock outs will not be lifted in the Kings Cross precinct but that has led to many redevelopments in the area changing the local demographic and increasing the number of residents ensuring prices for venues in this area will remain strong.
Subiaco Hotel WA
Well known as one of Perth’s favourite local pubs, the Subiaco Hotel has been owned and operated for over 50 years by Michael and Judy Monaghan. The hotel will change hands in mid-October to WA hotel proprietors Dave Allan and Lawson Douglas (who also own hotels in Bunbury and Kalgoorlie)
Sources:
https://theurbandeveloper.com/articles/byron-bay-beachie-hotel-hits-market
https://www.communitynews.com.au/western-suburbs-weekly/news/new-owners-for-subiaco-hotel/
