Orange’s historic Canobolas Hotel will change hands later this month after nearly two decades of ownership by partners Arthur Laundy, Mark Dalton and Philip Tudor.
The venue has been purchased by the Sukkar family, owners of construction giant Buildcorp, in partnership with Point Group Hospitality, with the deal negotiated by Leonard Bongiovanni from Manenti Quinlan & Associates.
“To achieve a record sale price following such strong recent results highlights the incredible strength of the market. The ‘Nob’, as it’s fondly known by locals, is an iconic Art Deco pub in the heart of town. Constructed in 1939, it has an impressive street presence and loads of character – but there’s still plenty of potential for the new owners to take it to the next level,” said Bongiovanni.
“Orange has excellent appeal as one of the towns leading Australia’s regional revival. The population has exploded to overtake Bathurst and Dubbo, and the number of annual visitors to the region grew from 1.1 million in 2017 to more than 1.8 million in 2020. It’s a fantastic place to invest.”
Buildcorp’s Mark Tonkin confirmed it would be business-as-usual at the pub initially while the buyers looked at renovation options.
“Our vision is to give the Hotel Canobolas a thoughtful facelift that celebrates its original heritage features and identity,” said Tonkin.
“We plan to begin with the ground floor bar and bistro before renovating the ballroom, upstairs bars and function spaces, then moving onto the accommodation.”
The new owners will keep the hotel’s current staff, with an existing staff member becoming the licensee and general manager.
“The staff are number one,” said Tonkin. “We want to be an active participant in the local business community, become part of the fabric of Orange, and contribute to the prosperity of the town and wider central west region.”
Philip Tudor, part-owner of the Hotel Canobolas with Mark Dalton and renowned hotelier Arthur Laundy since 2003, said: “We feel very privileged to have owned such an iconic hotel and are excited about the opportunities the sale presents for our staff and the Orange community.
“We welcome the Sukkar family to Orange and look forward to remaining involved with the local community through our other businesses.”
The heat is definitely still in the regional pub market, with the Canobolas sale being followed by the sale of the Pig & Tinder Box in Tamworth.
Harvest Hotels sold the venue through JLL Hotels & Hospitality Group with a local hospitality operator adding the pub to its portfolio. JLL said ‘The Pig’ has been a solid trader with around $30,000 per week in revenue and the sale included a nine-year lease and a Hotelier’s Licence.