A frothy frenzy: The major pub sales so far in 2022

The surge in values has prompted veteran publicans who have been in business for decades to call last drinks and take advantage of extremely strong market fundamentals.

Experienced operators, new entrants, syndicates and investment giants are all swooping in, with record levels of capital flowing into the sector.

Keeping up with the spree of transactions is no easy feat. Here are some of the most noteworthy deals struck in recent months – as well as some of the watering holes currently on the market.

SOLD

Crossroads Hotel, Casula

The Sydney venue toppled the record for the highest price paid for a single pub when it sold for a whopping $160 million to former Sydney Lord Mayor Nelson Meers.

It included 15 accommodation rooms, a bistro and 30 electronic gaming machines.

Merewether Beach Hotel, Newcastle 

Hotelier Glenn Piper and a small syndicate of investors scooped up the keys to the expansive beachside pub for about $40 million.

HTL Property agents Dan Dragicevich and Andrew Jolliffe brokered the deal.

John Curtin Hotel, Carlton 

Carlton’s infamous watering hole for unionists, politicians and students sold after a controversial campaign. Unions rallied for the pub to be preserved, but their efforts to buy and preserve the hotel were unsuccessful.

The popular live music venue is believed to have sold to an offshore investor. The final price has not been confirmed but the property was listed with a circa-$6 million price tag. The future of the hotel remains uncertain.

Minskys Hotel, Cremorne

The famed watering hole, known for its late nights with piano man John Watson, sold for $39 million this month. The Red Cape Ground offloaded the pub to the Karellas family, in conjunction with pub operator Mitchell Waugh.

The Lennox Hotel, Lennox Heads 

Well-known pub baron Stu Laundy partnered with Lennox Head local Fraser Short to buy the two-storey beachfront hotel in a deal thought to be worth around $40 million.

Victoria Hotel, Wagga Wagga 

Another sale, another record. The $29 million sale of the Victoria Hotel was a national record price for a regional or country pub.

The Vic was bought by fund manager Harvest Hotels.

Apollo Bay Hotel, Apollo Bay

A Melbourne-based publican snapped up the popular pub on Victoria’s Surf Coast, paying roughly $11.5 million.

Pendle Inn, Pendle Hill

The western Sydney inn was recently sold for the first time since it was built in the 1950s. JLL brokered the $75 million deal, which is the second-highest price ever paid for a Sydney pub – after the sale of Crossover Hotel.

Grand Hotel, Bundaberg 

Queensland country pubs have also proven popular, with the Grand Hotel in Bundaberg transacting for around $4 million.

The hotel had recently undergone a $1 million refurbishment and includes a restaurant and 27 accommodation rooms.

CBRE brokered the deal and said more Queensland assets would be on the market in the coming months.

Earlwood Hotel, Earlwood

The newly formed Orion Hotel Group paid $45.2 million for the Earlwood Hotel in late April.

HTL Property negotiated the deal on behalf of long-time owner Kent Walker.

FOR SALE 

The Parkview Hotel, Orange

After a number of off-market deals were struck in the regional NSW town of Orange last year, the listing of The Parky is expected to generate significant interest.

JLL has been appointed to sell the hotel, which includes 14 rooms, a beer garden and 12 gaming machines.

The Caledonian Hotel, Singleton 

Having received several unsolicited offers in recent years, long-term owners Helen and John Hill have decided to part ways with the pub.

JLL is running an expressions-of-interest campaign due to close on June 2.

The Astra, Broken Hill 

The esteemed hotel is a popular venue occupying a prime corner position in Broken Hill.