Goldsmiths sell up their waterfront venues portfolio across Sydney and Central Coast

One of the largest hospitality companies in Sydney’s northern beaches has been sold to an as yet unknown buyer.

Andrew and Pip Goldsmith, the owners of The Boathouse Group, have sold their business in an effort to “rectify financial pressures”.

The Boathouse Group owns eight waterfront venues in total including the Boathouse Palm Beach, Boathouse Hotel Patonga, Mobys Dicks wedding and events venue at Whale Beach, the Whale Beach Deli and the newly opened Barrenjoey House.

The Goldsmiths told the Manly Daily the business had been acquired by a “local family consortium” made up of “two family investment offices within NSW”.

Reports suggest the couple have been coming under increased financial pressure during the recent expansions into the Central Coast and the opening of Barrenjoey House for guesthouse-style accommodation.

“The Group’s rapid expansion in the previous year, particularly the opening of The Boathouse Hotel Patonga and Barrenjoey House, resulted in the need to rectify financial pressures and recapitalise,” they said in a statement.

“This purchase by new equity partners provides the investment The Group requires to keep delivering the experience our guests know and love.”

It would be “business as usual” across all its venues, while the Goldsmiths would still manage the day-to-day operation of the businesses.

Sheridan Randall, 31^st July 2019