Good Beer Co snares Sydney growth corridor pub
John Azar’s Good Beer Co has swooped on a north west Sydney growth corridor pub completed in late 2020 – just after the national COVID lockdown.
Following an off-market campaign, the Duke of Dural cost $25 million.
The developer and vendor was the Colosimo family’s Momento Hospitality; the 2657 square metre block which made way for the venue, 3 Kenthurst Road, previously accommodated two buildings, a two level office and a warehouse.
Following the disposal, it holds eight assets including the Oran Park Hotel – Australia’s largest pub – opened in 2024, with seven bars across 7500 sqm.
Good Beer Co also holds a significant portfolio including the CBD’s Edinburgh Hotel, acquired last year.
In April we reported it sold Ashton Waugh North Sydney’s Union Hotel.
Build-up plan
At the Duke of Dural, Mr Azar is expected to proceed with a permitted plan for a first floor alfresco dining area.
“The business has gone from strength to strength now generating over $150,000 in weekly sales across food, beverage, gaming and wagering with 2am trading approval,” JLL marketing agents, Ben McDonald and John Musca, said.
There are also 30 electronic gambling machines.
The Hills district is one of Sydney’s fastest growing municipalities, they said.
“The sale of The Duke and engagement through the campaign highlights the ongoing market demand fixated on pubs as an asset class,” according to Mr McDonald.
“Our outlook on the market remains bullish heading into the back half of the year, with that view underpinned by current asset supply constraints and real potential for further interest rate easing,” he said.
Dural, part of the North West Growth Area, is about 35 kilometres from town.
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