Anthony Medich cashes in pubs for $50 million

Pub investor Anthony Medich has cashed up with the sale of three pubs in the past two weeks, worth about $50 million, with the latest being the Woolwich Pier, Woolwich, and Wolloomooloo Bay hotels, both of which were snapped up by the Laundy Family.

Approximately $200 million in pubs have sold across Sydney in the past six months. Photo: Andrew Quilty

In the past six months close to $200 million worth of pubs have sold across Sydney as investors seek out higher yielding bricks and mortar assets and are willing to pay high prices.

The very private Medich family group owns the pubs through Halcyon Hotels Pty Ltd, which includes also the Centennial hotel in Woollahra and recently sold the Buena Vista hotel in Mosman for about $16 million, to a private family.

Mr Medich, who owns and operates the successful pub business, is also the son of Roy and nephew of Ron Medich, but they are not involved in the pub group.

No price was disclosed for the latest deals, but it was suggested the Woolwich Pier was about $14 million and the larger freehold Woolloomooloo Bay was worth about $20 million.

Source : Sydney Morning Herald   Carolyn Cummins    June 8th 2015