A syndicate comprising ex-Qantas chief executive Geoff Dixon, and DBL Pub Group’s David Birkbeck and Russ Lowe, has sold Glebe’s Nag’s Head Hotel after seven years.
Marcello Colosimo’s Momento Hospitality is the buyer – outlaying a speculated $12 million for the freehold going concern.
The acquisition comes two months since Momento paid ex-sportsman Bill Young $11m for the suburb’s Friend in Hand hotel.
Also in May, Mr Colosimo snared Surry Hills’ Royal Albert, for a speculated $10m.
That seller was a syndicate comprising former rugby player Bryan Fletcher.
“Our recent purchase of three inner-city freehold hotels speaks to a strategy around portfolio balance, and also an opportunity to active some food and beverage levers we have been formulating and look forward to activating,” Mr Colosimo said (story continues below).
Nag’s Head Hotel
At 162 St John Road, on the south west corner of Lodge, the Nag’s Head Hotel was completed in the 1860s.
Mr Dixon and DBL Group acquired it from the O’Hara family, which lived in an upstairs component for 15 years.
HTL Property’s Andrew Jolliffe and Sam Handy brokered the latest sale, off market.
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