Laundy's latest purchase biggest pub sale of the year
In a continuation to the theme of irreplaceable coastal properties changing hands of late, a local Byron Bay business operation has spread its wings in order to acquire the remarkable beachfront hotel at the world renowned surf spot, Lennox Head.
The Lennox Hotel, owned for in excess of a decade by the private Campbell & Lister families, has discreetly changed hands for an undisclosed sum to the local Fraser Short and Stu Laundy hospitality consortium.
Brothers Clyde and Greg Campbell said “We feel very privileged to have owned such an iconic hotel. The decision to sell was not one that our families made lightly but we are excited about the opportunities this presents for our team and the community. We welcome the Short and Laundy families to Lennox and look forward to remaining involved in the community through our other businesses”.
Like Manly’s Steyne Hotel, Byron’s Beach Hotel, Bondi’s Bondi Hotel, Cronulla’s Northies or Coogee’s Pavilion, the Lennox Hotel is one of the few truly beachfront hotel properties in Australia and was similarly negotiated by Andrew Jolliffe of expert brokerage house, HTL Property.
A favourite of the Lennox Head and Ballina communities, the picture perfect and expansive hotel is internationally known for its ocean views; and regularly draws locals and tourists from nearby Byron Bay. “We have a house on Belongil in Byron Bay and The Northern Rivers is my little family’s second home; so with both The Balcony Bar and Oyster Room and The Farm Byron Bay all in our group, Ally and I are excited to expand into such an amazing community. Lennox Head is both a world class destination and a sought after lifestyle for those that are lucky enough to enjoy it. The Lennox presented itself as an unmissable asset so we joined together with our long term partners the Laundy family to ensure we can deliver back to the community a gathering place that represents their lifestyle and one they can be proud of being associated with” commented successful Purchaser, Fraser Short.
The commencement of 2021 has already produced some very meaningful transactional activity across the national hospitality footprint. With Sydney’s General Gordon and Brisbane’s Alliance Hotel two well known capital city assets both changing hands following transactions concluded by HTL Property.
“We feel most fortunate to be entrusted to negotiate the sale of a number of unmistakable Australian hospitality paragons such as The Lennox, and each time we do we are reminded of just how fundamentally inimitable these very valuable assets truly are” advised HTL Property Asia Pacific Director, Andrew Jolliffe.
In respect of the transaction value and off-market nature of the sale process HTL Property was selected to undertake, Jolliffe was not prepared to elaborate.
“Stu and Fraser understand the infrequency of rare opportunity; and when presented by the chance to own a generational asset such as this one, mobilized with blinding efficiency” concluded Jolliffe.
HTL Property, 13th February 2021
