Western Sydney pub family the Stanfords have sold the Carousel Inn in Rooty Hill to Solotel and put a third and final gaming pub on the market.
The Stanfords, who sold their Vineyard hotel on the outer north-western suburbs for $70m last month, have also put a third pub – Pub @ Rivo – on the market.
Solotel CEO Elliot Solomon said of the Rooty Hill purchase, “We’re excited by the opportunity the Carousel Inn brings to Solotel and would like to thank the Stanford family for providing this opportunity and the team at HTL Property for running a seamless sales process. We’re thrilled that the venue can be passed onto another family-owned hospitality operator.
“We look forward to engaging with the community to better understand how we can take the venue into the future. This purchase is an important first step into the North West – a key growth corridor for Sydney – as we look to continue to expand our diverse portfolio of pubs, bars and restaurants across Sydney.”
Glen Stanford said of the sale, “We’re absolutely delighted with the sale to the Solomon family, and look forward to concluding our portfolio divestment objective with the sale of our final North-Western Sydney hotel asset in Riverstone, before the end of the year.”
HTL Property, which oversaw the sale of the Vineyard hotel and the Carousel Inn, and now Pub @ Rivo, says the venue has multiple street frontages, a strong food, beverage offer, gaming and wagering patronage, and is well known for its large beer garden.
Pub @ Rivo is also situated next to the Riverstone railway station and the proposed Riverstone Town Centre, and is well-positioned in a major growth corridor of Sydney, according to HTL Property.
“Riverstone as a Sydney suburb finds itself strategically positioned equidistant from the huge residential developments that dominate the North-West corridor, but also enjoys the downstream development benefit from major and proximate master-planned communities such as Marsden Park, Vineyard, Box Hill & Schofields,” HTL Property’s national director Dan Dragicevich said.