Swansea Pub sold
The Laundy Hotel group has snapped up the Swansea Hotel in New South Wales’ Lake Macquarie district for a tidy $13 million.
The hotel sits on prime land right at the gateway to Lake Macquarie.
The Swansea is located two hours north of Sydney and half an hour south of Newcastle on the Pacific Highway and sits on some of the best fishing spots in the area.
The acquisition adds another hotel to the Laundy Group stable which already comprises 19 hotels in Sydney and regional New South Wales including the Golden Fleece Hotel in Liverpool, the Quarryman’s Hotel in Pyrmont, the Red Lion in Rozelle, the Settler’s Tavern in West Gosford and the South Dubbo Tavern in Dubbo.
Located on the main street, the 3235-square-metre Swansea Hotel was put through an extensive renovation in 2015.
The place provides various meat and seafood raffles weekly and a popular weekly Member draw.
It also offers extensive menu to along with a special Kid's menu. Its bistro is open 7 days a week for Lunch & Dinner.
Needless to say, it offers TAB Facilities and Keno along with all on tap beers.
The Swansea was sold off market to the Laundy Group by the CBRE Hotels team of Daniel Dragicevich and Ben McDonald.
CBRE Hotels national director Daniel Dragicevich, said one of the big trends now was that investors, who had always focused on metropolitan areas, are now looking to pick up assets outside of Sydney.
He said the Laundy Group has been one of the big players in this trend.
CBRE Hotels manager Ben McDonald said investors were now hungry for acquisitions around the state.
We have sold seven NSW regional and coastal assets worth nearly $50 million this year alone as appetite continues unabated for these opportunities," Mr McDonald told the Sydney Morning Herald.
by Leon Gettler, October 4th 2016
