Woolworths and Laundy Make Caringbah Pub Play

A NEWLY formed consortium including Woolworths and hotel industry veteran Arthur Laundy have made their first major property play in southern Sydney.

The consortium is reportedly paying $40 million for the Caringbah Inn, at 343 Port Hacking Road and a few kilometres from the bayside suburb of Cronulla.

The pub includes strong food and beverage earnings, poker machines, and a bottle shop which may be rebranded as Woolworths trademark Dan Murphys.

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Redcape Property Trust Sells Sydney Pub For $9 Million

SYDNEY’s Bristol Arms Retro Hotel, in Sussex Street, has sold to a private investor for $9 million.

The sale translated to a net yield of 10.9 per cent. The vendor was Redcape Property Trust.

The pub (right) sits on a 437 square metre block and includes two street frontages, and 1975 square metres of gross lettable area, according to the AFR.

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