Australia’s most expensive pubs
The Australian Financial Review (AFR) has revealed Australia’s 50 most valuable pubs, noting the pub industry has combined with the property industry with properties worth hundreds of millions of dollars.
Investors love a good pub buy, especially if it brings in gaming revenue and has valuable real estate.
“Pubs are underpinned by incredible real estate value and great cash flow,” Stuart Laundy told AFR. “They’re also an extremely fun business.”
The Laundy family owns a large portfolio of pubs through its Laundy Hotels vehicle.
Pub broker and managing director of HTL Property Andrew Jolliffe also highlighted the virtues of pub investment.
“Strong population growth against the backdrop of a comparatively static number of licences being issued highlights the sustainability of pub values,” he told AFR.
Last month, Australia’s biggest pub landlord Charter Hall told Financial Review Property Summit, “I think everyone grows up thinking they want to represent Australia at the Olympics or own a pub.”
The AFR compiled a list the country’s most valuable pubs with the help of some of the biggest pub realtors, valuers and owners. There are eight venues that would be worth more than $200 million if sold today, along with dozens of others that have sold recently at bumper prices.
Those in the $200 million club include:
- Ivy Precinct (Sydney CBD) Owner/operator: Merivale
- Establishment Bar & Restaurant (Sydney CBD) Owner/operator: Merivale
- Coogee Pavilion (Sydney) Owner/operator: Merivale
- Crossroads Hotel (Sydney) Owner/operator: Sonnel
- Coogee Bay Hotel (Sydney) Owner/operator: C!NC
- The Fiddler (Rouse Hill) Owner/operator: Lewis Land Group
- Hotel Steyne (Sydney) Owner/operator: Iris Capital
- The Oaks Hotel (Sydney) Owner/operator: Thomas family
For the full list go to: https://www.afr.com/property/commercial/revealed-australia-s-50-most-valuable-pubs-20240904-p5k7qm
Jonathan Jackson, 23rd October 2024
