By Clyde Mooney
The Laundy family has been confirmed as the financial backer of Fraser Short's acquisition of Watsons Bay Hotel.
A source close to the Laundys has confirmed they fronted much of the capital required for the purchase of the property, now believed to have sold for around $25 million.
Speaking to TheShout, the source said the Laundys are extremely happy with the purchase and partnership with Short.
"For this style of venue, Fraser’s set the benchmark for a dozen years," he said.
Short is to be a key figure in the hote's reinvention, having recently opened his own venue The Morrison in the centre of Sydney.
Overlooking South Head and Sydney Harbour, Watsons Bay Hotel is prime for a modern makeover, which is likely to include an international food offering to accompany the world-class view from its famous beer garden.