Arthur Laundy doubles down in Woy Woy
Harvest Hospitality has sold the Woy Woy Hotel after five years and a renovation.
The group is in the black – a little – following the $40 million sale.
Arthur Laundy is the buyer.
The deal comes five and a half years since the pub baron bought the Bay View Hotel, diagonally adjacent, for $38m.
Harvest bought the Woy Woy at the same time, paying $32m following an off-market deal to the McIntyre family which operated the venue since the 1990s. Late last year it completed a $6m renovation.
Revamped asset
Developed in 1897, the Woy Woy Hotel, locally known as The Old Pub, at 33 The Boulevarde, overlooking Pelican Island, contains a bar, bistro and gaming room with 30 electronic gambling machines, able to accommodate some 900 people (continues below).
Also with a drive through bottle shop, weekly revenue is reportedly c$245,000.
JLL’s Ben McDonald and Kate MacDonald represented Harvest.
Woy Woy on the Central Coast is about 90 kilometres north of Sydney’s CBD.
In January, Mr Laundy paid Nine Entertainment $56m for its radio network – including 2GB and 3AW – a business valued at $275m just before COVID.
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