Arthur Laundy sells Orange pub for record $ 25 million

The Royal Hotel was bought by a syndicate of wealthy Canberra investors in a $ 75 million blow to five pubs in west-central New South Wales, while the Robin Hood Hotel was bought for a new regional advertising fund created and managed by Sydney hotelier Jason Marlow. and his wife Peta.

Another NSW country town, Armidale, has also been the subject of a number of hotel deals this year, including the Whitebull Hotel, which was sold to regional hotelier Jim Knox for 13 , $ 25 million, a record for the agricultural town.

The Sukkar family purchased the Canobolas Hotel in partnership with Sydney-based Point Group Hospitality.

Led by Brett Robinson, Point Group locations include the new Menzies Bar & Bistro at Shell House, built by Buildcorp, and Fort Denison in Sydney Harbor.

Léonard Bongiovanni by Manenti Quinlan & The partners negotiated the sale of the Canobolas Hotel on behalf of Mr. Laundy and his co-investors.

“Achieving a record selling price following such strong recent results demonstrates the incredible strength of the market,” Bongiovanni said.

“Orange is one of the flagship cities of Australian regional renewal. The population has exploded to overtake Bathurst and Dubbo, and the number of annual visitors to the region has grown from 1.1 million in 2017 to over 1.8 million in 2020. It’s a fantastic place to invest, ”said Bongiovanni.

Buildcorp’s Mark Tonkin said the new owners plan to give the hotel a “thoughtful facelift that celebrates its heritage features and original identity.”

“We plan to start with the downstairs bar and bistro before renovating the upstairs ballroom, bars and reception areas, and then move on to accommodation.”

Joshua B. Speller