Publicans Ben Lawler and Ryan Haynes are paying c$19.5 million for Camden’s c1841 Royal Hotel.
The deal reflects a major windfall for the vendor, developer Michael Anthony (Tony) de Saxe, who outlaid $5.14m in February, 2016, then renovated.
The investment previously traded for $2.94m a decade ago.
On 1526 square metres at 35-39 Argyle Street, at the north west corner of Elizabeth, the single storey venue has a 2am liquor licence.
It also includes a bistro, bottle shop and gaming room with 24 electronic gambling machines.
HTL Property’s Blake Edwards, Sam Handy and Dan Dragicevich brokered the sale to Mr Lawler and Mr Haynes who, via their Local Hospitality Group, control venues at Bathurst (Elephant and Castle), Dubbo (Commercial Hotel) and in Wagga Wagga, the Riverina Hotel (story continues below).
The deal comes four months since Marlow Hotel Group paid operators Garry and Jim McGrath $12m for the nearby Camden Hotel, which has 16 EGMs.
Also last quarter, Home Consortium teamed with Acurio Health Group to develop a five hectare medical precinct in the area.
Camden is about 65 kilometres west of Sydney.
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