Warren Livingstone renovates, sells historic pub
Warren Livingstone has sold McGraths Hills’ Australian Hotel after three years and a major renovation.
The publican, sports administrator and businessman is reaping $40 million for the freehold going concern, from an as yet undisclosed buyer.
Via Highclere Hospitality, he paid $12m to the Maguire family, which opened it 131 years, or six generations, earlier.
That seller progressively extended it, with a standalone drive thru bottle shop.
Bought as a large format pub, Mr Livingstone recently completed a refurbishment.
With a bar, bistro and gaming room with 30 electronic gambling machines, the weekly revenue is $175,000.
McGraths Hill is about 53 kilometres north west of Sydney’s CBD.
Development upside
The McGraths Hill block, 1 Pitt Town Road, at the north east corner of Windsor Rd, spreads 6000 square metres, with significant open-air car parking offering development upside.
HTL Property’s Dan Dragicevich with JLL’s Kate MacDonald brokered the off-market sale.
Highclere retains five pubs including the c1823 Rose & Crown in Parramatta, acquired from the Pub Invest portfolio for $42m, also in 2022.
The Charing Cross, built c1857 at Waverley, Hyde Park House at Darlinghurst, the third pub on that site, completed 1919, which Mr Livingstone also refurbished, in 2018, also forms part of the company’s book.
Last year the executive, founder of sports digital platform Fanatics, sold Botany’s Captain Cook Hotel to Kent Walker for $35m – about twice the 2020 outlay before a renovation.
Outside of Sydney, Highclere holds Snowy Mountains’ Alpine Inn at Khancoban.
More to come.
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