Byron Bay's Beach Hotel ‘sold for $140m'
The massive sale went through late Wednesday, according to Green Street News.
If the $140m price tag is confirmed, it would it make the second highest price paid for a pub in Australia, behind The Crossroads Hotel in Casula in Sydney's southwest which changed hands for $160m in 2022.
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The Beach Hotel sits in the heart of Byron Bay.
Former Sydney Lord Mayor Nelson Meers and his family were revealed as the buyers who paid top dollar for The Crossroads
The new buyer of the Beach Hotel, which sits right in the heart of the township of Byron Bay on Main Beach, is yet to be confirmed.
However pub barons Arthur Laundy and Justin Hemmes are sure to mentioned as possibilities given their impressive and ever expanding empires, amid increased new competition for drinking holes across NSW.
Originally a family pub run by Sale of the Century hostess Delvene Delaney and her producer husband – and best mate to Paul Hogan, John 'Strop' Cornell – The Beach Hotel in Byron
was the first Aussie pub to sell for $100m, when it last traded in 2019.
RELATED: How family business became billion dollar pub empire
The huge pub last traded for $100m in 2019.
John 'Strop' Cornell, Paul Hogan and Delvene Delaney.
Records then revealed that global investment group Moelis had entered into an exclusivity agreement to purchase the 4585sq m property that Delaney and Cornell, who produced and co-wrote the international blockbuster Crocodile Dundee, spent about $9 million building up in the 1990s.
The pub has since been managed by ASX-listed company, Moelis Australia Hotel Management.
At the time of the sale, Dan Brady, CEO of Moelis Australia Hotel Management described the almost waterfront hotel as an 'iconic Australian establishment located on irreplaceable real estate.'
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Casula's The Crossroads Hotel holds the record Aussie pub sale of $160m.
'The acquisition of both freehold and operating interests will enable the required capital investment to further enhance what has made the hotel iconic – that is, a great community gathering place with a fun, sociable, friendly and safe hospitality offering delivered by an engage and passionate team of local hospitality professionals,' Mr Brady.
The Oaks Hotel in Neutral Bay on Sydney's North Shore was believed to have been sold for $175m in 2022, before the sale fell through and long-time owners The Thomas family decided to keep running it.
The $175m sale of The Oaks Hotel on Sydney's North Shore fell through. Picture: Supplied
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Originally published as Byron Bay's Beach Hotel 'sold for $140m'
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