Regional NSW hoteliers Ben Lawler and Ryan Haynes and Northern Beaches publican Glenn Piper have added new venues to their portfolios in separate pubs deals announced this week.
Lawler and Haynes, founders of Local Hospitality Group which owns pubs in Dubbo, Wagga Wagga and Bathurst, will take ownership of the Royal Hotel in Camden, while Piper is staying in the neighbourhood with the purchase of the Manly’s Q Station leasehold, subject to National Parks & Wildlife Service (NPWS) approval.
The seller of the Royal Hotel in Camden was reportedly Mosman-based developer Tony De Saxe. According to HTL’s Blake Edwards, Sam Handy and Dan Dragicevich who managed the sale, the developer bought the property in 2015 for just $5.5m.
In another deal, publican Glenn Piper, who operates the nearby Harbord Hotel at Freshwater Beach, plans to purchase the leasehold Manly’s Q Station from its current owner, Mawland.
The 30-hectare site at Manly’s North Head includes a 105-room hotel and multiple food and beverage outlets, huge grounds and a private beach.
The leasehold runs until November 30, 2050, though an extension can be negotiated with the owner of the land, the NPWS.
“This is an incredibly special asset and I am absolutely thrilled to be given the opportunity to operate Q Station and enhance its offering,” Piper said.
Mawland directors Suzanne Stanton and Max Player began operating Q Station in 2008 under a lease from the NPWS.
“Q Station is ready for a new layer of history and we are excited to see value added to the property and operation under the care of its new leaseholder, with a continued focus on complying with the needs of the local community, which over the years has taken Q Station to its heart,” they said.
The deal attracted significant domestic and international interest with 13 bids and over 250 enquires, according to CBRE Hotels and HTL Property which brokered the deal.
“The sale of Q Station is a great example of the resilience of Sydney’s hotel investment market and the continued interest in institutional-grade tourism assets,” said Tom Gibson of CBRE Hotels.
HTL Property’s Andrew Jackson said,“ There’s no doubt the nature of the offering with a hospitality and tourism focus appealed to all investor types. Given the timing of the offering through NSW’s harshest lockdowns, it was incredible to see the level of confidence from the market.”