By Annette Shailer

Sydney hotel group, Merivale, bought the Beresford Hotel in Surry Hills for a bargain price of $14.6 million at auction yesterday (Apr 13).

Justin Hemmes' family-owned company snapped up the popular venue, which underwent an extensive renovation recently for a reported $35 million.

The Beresford Hotel was put on the market last year for around $25 million.

While Merivale’s plans for the hotel are unclear at this stage, a spokesperson for the group provided TheShout with this comment from Justin Hemmes.

“It is a great pub in a great location and I believe it has huge potential for growth,” Hemmes said.

The Beresford is the latest addition to Merivale’s impressive portfolio of Sydney hotspots, which includes Slip Inn, CBD, ivy, Lotus, The Grand, Angel, Wynyard Hotel and Establishment.

The purchase perhaps puts to rest rumours that circulated in late December 2008, that Merivale was facing financial difficulty.

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The Shout Team

The leading online news service for Australia's beer, wine, spirits and hospitality industries.

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