In April last year,former Sydney lord mayor Nelson Meers paid $150 million for the Crossroads Hotel in the western suburbs,reflecting the large appetite for the pub sector.
It was suggested the private buyer was a local patron of the pub,with “connections to the film industry”. One suggestion said the buyer was an associate of film producer George Miller.
The private McKinnon family,led by Bob McKinnon,was a former partner in the Oaks with the Thomas family and ran the pub for thirteen years in its early days.
Pub baron Justin Hemmes confirmed he wasn’t the buyer. Another name thrown in the ring,MA Financial,which owns the Beach Hotel in Byron Bay,also said it was not involved. A title search has also come up blank.
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Agents for the sale,JLL Hotel’s John Musca and Ben McDonald,declined to comment on the sale and the price as it is yet to settle,but were authorised to say:“[We] can confirm it has sold to a local family and long-time patrons of The Oaks.
“It is expected to settle soon,and you will see continuity of this wonderful,community business,” they said in a prepared comment.