Laundy, Flower invest again in Port Macquarie
Taphouse Group has sold the second of two Port Macquarie pubs listed in April.
About six kilometres south of the town centre, the Tacking Point Tavern is being picked up the the Laundy and Flower families for c$47 million.
On 6744 square metres at 102a Ocean Drive, on the north west corner of Emerald, the sprawling venue underwent a $10m renovation in 2018.
The freehold going concern was offered generating $13.3m annual income, from a bar, bistro, bottle shop and gaming room with 30 electronic gambling machines – one of the largest allocations in the municipality.
The disposal comes three weeks since Taphouse, backed by the Mattick and Salter families, offloaded the Port Macquarie Hotel to a Sydney operator for $57m.
HTL Property struck both sales.
Arthur Laundy chasing waves in his 80s
The Tacking Point Tavern acquisition comes four months since Mr Laundy, 81, and Alistair Flower, a Port Macquarie publican, outlaid $23.5m for the Mercure Hotel, in the town centre (story continues below).
Unlike the latest asset, that property derives an income component from a 4.5-star motel – with 72 suites.
Earlier this year, Mr Laundy’s daughter, Danielle Richardson, with husband, Shane, paid $13m for the Orana Hotel at Blacksmiths, near Newcastle.
Elsewhere on the NSW coast, the family has recently purchased, sometimes in partnership, the Lennox Head Hotel, near Byron Bay, Hotel Illawong and Woy Woy’s Bay View – the latter with his son, Stuart.
South of Sydney, the hospitality group last November snapped up Wollongong’s Cabbage Tree Hotel – for $11m.
About 10 kms south of Tacking Point, Mr Flower operates the Lake Cathie Tavern, after purchasing the leasehold in 2019.
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