Another cherished old pub,South Yarra’s Imperial Hotel,could be in the hands of a developer next week.
The Adelphi Hotel,known for a rooftop swimming pool that is partially suspended above Flinders Lane,has sold for $19 million.
The craft brewer is closing down after losing almost $1 million in trade during roadworks after failing to secure compensation from the state government.
Pub veteran John Ryan has splashed out more than $70 million for the Tea Gardens pub in Sydney’s east in what is the largest deal this year in the booming hotel sector.
The iconic Lord Nelson in Sydney’s Rocks district has changed hands as the pub market stays frothy,with sales across the country close to $1 billion in 2024.
The historic pub is set for a new rooftop redevelopment,with restrictions,after VCAT settled the long-running dispute. Opponents have vowed to keep fighting.
The Laundy family is plunging millions into Sydney’s ailing hospitality sector,defying the cost-of-living crisis.
The two pubs were sold last year with grand plans to create an Ivy-style mega-complex on Taylor Square. Those prospects appear to be dashed.
Pub operators and investors are rolling back into the sector,with close to $100 million in sales completed in the past few weeks.
After a decade of pulling beers,businessman and former Qantas and Tourism Australia chair Geoff Dixon is calling last drinks as landlord of the 160-year-old Blues Point hotel,on Sydney’s lower north shore.
The popular eastern suburbs watering-hole is on the market as its owners focus on its Sydney northern beaches portfolio.