Wyong hotel sold after revamp
Former Lion executives Frank Arangio and his wife, Marney Macqueen, with ex-AHA vice president, Pat Gurr, have sold Wyong’s Royal Hotel.
The freehold going concern for the Central Coast pub is speculated to have collected $25 million from Sydney-based pub operator Bayfield Hotel Group.
The 3537 square metre E2 Commercial Centre zoned holding at 40-44 Pacific Highway, abutting the Wyong train station and town centre, generates about $7.85m in annual revenue – c$151,000 per week – across a bar, bistro and accommodation – with 14 rooms, 10 with ensuites.
There is also a gaming room with 15 electronic gambling machines.
Profitable deal
Mr Arangio, Ms Macqueen and Mr Gurr paid $7m for the Royal Hotel freehold going concern in 2017.
More than $5m was tipped into a revamp including $2m in 2025 for the River Deck, with an all-weather beer garden, bar and playground.
“Our clients have done a wonderful job reconfiguring the venue into a true large format offering; enhancing the business footprint and delivering operational capacity exceeding $10m in consolidated revenues attracted annually” HTL Property agent, Andrew Jolliffe, who brokered the deal with Dan Dragicevich and Blake Edwards, said.
Mr Arangio and Ms Macqueen are expected to move to Melbourne and open another pub (continues below).
Bayfield Hotels Group managing director Kaine Bayfield added the group was looking forward to building on the business established by the vendors.
Another Central Coast pub deal
The deal comes five months since realestatesource.com.au reported MA Financial’s Redcape Hotel Fund paid operator the Thomas family $36m for The Entrance Social Club.
Redcape also just bought Caves Coastal Bar & Bungalows for about $40m, according to sources.
In April, Arthur Laundy snapped up the Woy Woy Hotel, for $40m.
That seller was Harvest Hospitality which acquired the asset in 2021 and renovated.
Mr Laundy also bought Woy Woy’s Bay View Hotel five years ago.
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