Laundy family sell West Gosford pub after a decade
The Laundy family has more than tripled its outlay selling West Gosford’s Settler’s Tavern after a decade.
The buyer, Damian Kelly, is paying $18.5 million for the freehold going concern of 2 Hely Street.
With a bar, bistro and gaming room with 20 electronic gambling machines, the kitchen and lounge area has recently been renovated.
The liquor licence runs to 3am.
The site spreads 5021 sqm near a parcel the NSW planning department has earmarked for a $115m mixed use project with a 196-room motel.
The deal marks a return to the sector for Mr Kelly after 24 months.
West Gosford is about 65 kilometres north east of Sydney’s CBD.
Also today we are reporting Castle Group bought the Spotswood Hotel, also known as the Spottiswoode Hotel, in Melbourne’s inner west (continues below).
Kelly returns to sector
Arthur Laundy, with his daughter and son in law, Justine and Nick Tindall, acquired Settler’s Tavrn from Phil and Marj Bernie for c$5.5m
The on sale was brokered by HTL Property’s Dan Dragicevich and Blake Edwards.
Proceeds will be tipped into other assets.
“Excellent trading conditions right now across NSW are continuing to exemplify the sector’s attractive investment fundamentals,” Mr Dragicevich said.
“This is highlighted by the Settler’s transaction, between clearly an industry stalwart in the Laundy family and an experienced hotel investor buying back into the market,” he added.
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