Laundy family to sell five pubs

The Laundy family is looking to raise $30 million from the sale of five Sydney pubs it has deemed non-core to its plans.

The group, which has already sold other pubs to Woolworths and bought a stake last year in the popular Watsons Bay Hotel, said the deal was part of a continuing restructure of the business.

In the latest sale, the Laundy family is bringing to the market five freehold pubs - the Charing Cross Hotel in Waverley, the Cat and Fiddle in Balmain, the Gary Owen in Rozelle, the Crown and Anchor in Newcastle and the William Hotel in East Sydney.

The marketing agents are Andrew Jolliffe, Gerry Quinlan and Mike Wheatley.

Mr Jolliffe said the hotels were all situated on main roads and operating in established suburbs.

''This is the first time a suite of sub-$10 million [each] assets of this quality have been brought to market to be sold individually or in one line,'' Mr Jolliffe said.

Source: The Age, 13 April 2013