By James Atkinson
The Laundy family’s relationships proved crucial as they claimed victory together with partner Fraser Short in one of Sydney’s most fiercely contested pub sale campaigns of recent times.
There were reportedly more than 20 suitors for Ferngrove Group's Mona Vale Hotel, marketed in recent weeks through an expressions of interest campaign by Ray White Hotels.
But it was the Laundy and Short partnership that picked up the trophy pub, after convincing Ferngrove CEO Peter Beaumont, a long-time friend of the Laundy family, to also part with his other beachside hotel, Northies.
Stu Laundy told TheShout that only a few of the parties interested in Mona Vale would have had the means to also acquire Northies in the same transaction, so the proposal significantly narrowed the field of competing parties.
“We’ve known Peter Beaumont since I was a kid, Dad’s known him for 50 years probably.
“We thought, if he’s selling Mona Vale, he’s every chance of selling Northies,” Laundy said.
Laundy said both are massive pubs with huge upside under the shrewd management of their operational partner, Fraser Short.
"He’s our partner in this sort of stuff and he’s an extraordinarily talented bloke. I put him up there with [Justin] Hemmes, they’re freakishly talented at what they do. “
Laundy said he and father Arthur are constantly watching the pub market for new opportunities.
“We’ll look at everything all the time, we’ll never stop,” he said.
Peter Beaumont’s Fernwood Group retains The Exchange at Balmain and the Greengate at Killara.