Pub operators and investors are rolling back into the sector, with close to $100 million in sales completed in the past few weeks.
After a slow sales patch, buyers are taking advantage of pub patrons keen to socialise, watch sport and have a meal at their local watering hole. Investor interest is being spurred by the possibility of stage 3 tax cuts revitalising household budgets and a lack of investment opportunities in other property assets.While sales are busier in Sydney, the tightly held Melbourne market has also seen some deals and new listings.
The pub was a victim of Sydney’s 2015 lockout laws that stopped patrons entering venues after 1.30am, prompting its closure. It reopened two years later when the team behind Newtown’s Mary’s Burgers took over the reins, but closed again in February 2022. Long-term pub barons Arthur and Stuart Laundy are boosting their portfolio, purchasing the Light Brigade hotel in Sydney’s eastern suburbs for $20 million. HTL Property also advised on the sale.
“A few generations ago our family owned the Woollahra Hotel, and my father played rugby down at Easts; so I’m looking forward to a long association with a part of Sydney we love and know well,” Laundy added.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
US software company Salesforce gave NDIS officials gifts worth more than $100 on 45 occasionsDocuments submitted by the company to a parliamentary inquiry also detail meetings between Salesforce and former minister Stuart Robert at his request
Read more »
Fugitive financier cuts $100 million deal to forfeit Warhol, Monet paintingsA fugitive Malaysian money man who once partied with Leonardo DiCaprio, Paris Hilton and Usher has struck a $100 million deal with the feds to settle two lawsuits that accused him of buying luxury artworks with embezzled funds.
Read more »
New York magnet fisher catches safe full of soggy $100 bills, he saysJames Kane has used a powerful magnet to fish all manner of junk from New York City waterways, but he says the stacks of US$100 bills he pulled from a safe were something else entirely.
Read more »
Domino’s Pizza discovers ‘delicate yet masculine’ hands for new $100 per hour hand model role7NEWS brings you the latest local news from Australia and around the world. Stay up to date with all of the breaking sport, politics, entertainment, finance, weather and business headlines. Today's news, live updates & all the latest breaking stories from 7NEWS.
Read more »
Aussie restaurant owner’s warning after fake $50 and $100 notes fooled his employees7NEWS brings you the latest local news from Australia and around the world. Stay up to date with all of the breaking sport, politics, entertainment, finance, weather and business headlines. Today's news, live updates & all the latest breaking stories from 7NEWS.
Read more »
Antarctic icebreaker RSV Nuyina faces $100m cost blowout due to 'unforeseen' issuesA newly released report shows Australia's icebreaker, the RSV Nuyina, is facing a $100 million cost blowout by 2030 due to rising crew, fuel and maintenance costs.
Read more »