Momento Hospitality has sold its brownfields pub The Duke of Dural to Good Beer Company for $25m.
Momento Hospitality has divested the Duke of Dural in Sydney’s north-west. Owned and operated by the Colosimo family, the Momento Hospitality portfolio now consists of eight hotels across the Hills district and south-west Sydney – including the recently opened Oran Park Hotel, one of the largest pubs in New South Wales.
With large-format venues being a signature of the Momento Hospitality portfolio, the Duke of Dural had one of the smaller footprints within the group’s stable. CEO David Clifton said the sale of the pub allowed the group to focus on its larger-footprint venues.
“Momento Hospitality has made the strategic decision to divest from The Duke Hotel as part of our ongoing focus on expanding and operating large-format, community-driven venues across Western Sydney,” stated Clifton.
“Since its opening in 2020, The Duke has played a proud role in the local community, earning a reputation for exceptional food and beverage, a welcoming atmosphere, and a strong connection with its guests. Momento are incredibly proud of the Duke’s growth, its team, and the loyal patronage it has received.
“We remain committed advocates of The Duke and are confident that it will continue to go from strength to strength under new ownership. We thank everyone who has supported The Duke over the years — the journey has been nothing short of extraordinary.”
The sale of the Duke of Dural was exclusively managed by JLL’s Ben McDonald and John Musca.
Situated within the Dural Town Centre in The Hills district – one of Sydney’s fastest growing LGAs – The Duke was a brownfield pub development project which first opened its doors in November 2020. Since opening during Covid shutdowns, the business has gone from strength to strength now generating over $150,000 in weekly sales across food, beverage, gaming and wagering with 2am trading approval and 30 gaming machines.
In 2022 the Duke of Dural was named Overall Hotel of the Year – Metropolitan at the AHA NSW Awards for Excellence. At the time, owner Marcello Colosimo said of the pub’s accolades: “It is a quintessential locals hotel that serves great food and drinks in a relaxed atmosphere, served by a truly dedicated team.”
At the 2024 National AHA Awards, the Duke of Dural took out Best Bistro – Metropolitan.
A recent DA approval for a first-floor bar with alfresco dining will see the hotel offering expand further under the new owners, capitalising on strong underlying demand in the area.
The purchaser of The Duke has been identified as Good Beer Company, led by private hotelier John Azar who also counts a swathe of Sydney CBD pubs in his stable including Hotel Coronation, the Keg & Brew Hotel, and the Edinburgh Castle Hotel – the latter being the most recent acquisition, bought at the end of 2024. The group has signalled that it has big plans for the Duke of Dural.
“We’re proud to welcome the Duke of Dural into our group, the Good Beer Company. While the venue is a great location with a loyal local following, we saw enormous untapped potential — and under our stewardship, we’re confident the Duke will thrive,” stated Azar.
“Expect a major uplift across the board: from elevated food and beverage offerings to a renewed focus on service, community, and experience. Immediate changes will be subtle, but significant plans are on the horizon. We believe the Duke of Dural is ready for its next chapter, under our expertise — and it’s going to be a big one.”
McDonald said the Duke of Dural sale was indicative of the continued demand for pubs as an asset class.
“The sale of The Duke and engagement through the campaign highlights the ongoing market demand fixated on pubs as an asset class. Our outlook on the market remains bullish heading into the back half of the year, with that view underpinned by current asset supply constraints and real potential for further interest rate easing,” stated McDonald.
“JLL’s proprietary Capital Tracker in conjunction with real time knowledge of underbidder capital positions owners extremely well when considering their future investment objectives and specifically divestment options with prevailing market conditions currently on their side.”
Read Australian Hotelier’s Design & Build feature on the Duke of Dural from July 2021.