The billionaire publican family headed by Arthur Laundy has taken full ownership of pubs like the Watsons Bay Boutique Hotel and Northies in Cronulla.
Rich Lister Arthur Laundy and his family have joined the spending bonanza in the hospitality sector after agreeing to pay about $150 million to acquire full ownership of five trophy pubs that they had previously owned jointly with long-term business partner Fraser Short.
the cash-flow rich venues have become one of the most sought-after asset classes by both investors and publicans. Since then, they have partnered on numerous other acquisitions with the Laundy’s taking a more passive silent partner role, leaving Mr Short to develop and run the businesses under his Sydney Collective hospitality banner.
It is understood pub specialists HTL Property helped broker the deal between the Laundys and Mr Short.Mr Short said selling these venues allowed him to simplify his life and focus on his family, including four children.
United Kingdom Latest News, United Kingdom Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
‘Most of the animals wouldn’t survive’: The land clearing projects set to benefit private school and Sydney UniversityA Sydney private school and the University of Sydney are set to benefit from the clearing of at least 40 hectares of endangered animal habitat as part of two multimillion-dollar developments planned for the NSW South Coast
Read more »
BGH Capital squeezes lenders for AVC bar tabThe bid/ask spread’s widened at KKR’s pubs group Australian Venue Co.
Read more »
Major gambling reforms approved by NSW governmentLIVE: NSW Premier Dominic Perrottet and NSW Crime Commissioner Michael Barnes will make a significant announcement in relation to poker machines. DETAILS: 9News
Read more »
Major gambling reforms approved by NSW governmentMajor gambling reforms will come into effect if the NSW Government wins next month's election. No interest loans and one-off grants will be on offer to help venues cope with the introduction of cashless gaming machines. lizziedaniels 9News MORE:
Read more »
Butler pushes back against AMA, says ‘old Medicare’ needs overhaul before more fundingThe Health Minister has hit back at the AMA President accusing him of being “determined to fight” the government on its Medicare reforms as he rebuffs calls for immediate funding increases.
Read more »
Borg brothers add to farming empire as Macneils sell after 92 yearsMichael and John Borg have emerged as the $20.5m buyers of Glendower, while the Rand farm of Sussan Ley’s late campaign manager, Angus Macneil, is up for sale.
Read more »