Pub sales off to strong start in NSW

Pub sales in NSW have got off to a strong start this year, with four pubs changing hands this month.

The Hardin family sold the Illinois Hotel in Five Dock for about $15 million to Bill Young, marking a significant mark up from its last sale price of $4.85 million in December 2005.

Young also owns the Friend in Hand Hotel in Glebe, the Five Dock Hotel, The Palace Hotel in Mortlake and the Wisemans Ferry Inn Hotel.

The Camelia Grove hotel in Alexandria has also changed hands for the first time in 36 years.

The gaming hotel was sold by Adella Wright Young to local Sydney hoteliers for a price estimated at around $16 million.

The Australian Hotel in Ballina was sold by publican Patrick Henderson to former CUB sales rep Jackson Quinn for $4 million, while Sutton Forest Hotel in the Southern Highlands was sold to Sydney publican Ray Reilly.

“We were exchanging contracts for hotels on Christmas Eve, and this followed the most active twelve months the national footprint has ever experienced,” said HTL Property national director, Dan Dragicevich, who oversaw the sales.

Sheridan Randall, 30^th January 2020