By Clyde Mooney

After six months on the market, the grand old girl of Double Bay is staying with Solotel.

As one of the most consistently profitable pubs in the country the Golden Sheaf (pictured) was always going to attract a good price, but with final bidders unable to meet conditions the hammer has failed to fall.

Speaking to TheShout, a Solotel spokesperson said there were a number of reasons for the change of direction.

Solotel managing director, Bruce Solomon, had intended to use the sale of the Sheaf to kickstart new projects in Sydney and New York.

But due to a change in circumstances, the American venture is now off the agenda.

Meanwhile, the Sheaf has reputedly maintained a healthy customer base due to its individuality, entertainment variety and re-invention.

Agents for the sale, Jones Lang LaSalle, say the iconic pub has shown “pretty significant year on year growth”.

National director of pub sales, John Musca, confirmed to TheShout that Solotel had walked away from the plans in New York and decided the Double Bay landmark was better retained.

Solotel has a portfolio of 16 hotels and four restaurants, and Bruce Solomon was winner of the major award, Publican of the Year, at this year’s Australian Liquor Industry Awards (ALIA).

The Shout Team

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

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