Subiaco Hotel changes hands for the first time
Perth’s Subiaco Hotel has been sold to WA hoteliers Dave Allan and Lawson Douglas, reportedly for in excess of $10 million.
Allan and Douglas have purchased both the freehold and leasehold, taking over the operations from Michael and Judy Monaghan who have run the pub for the last 50 years. The freehold was purchased from a syndicate that included the O’Connor family.
This is the third pub for the business partners, who also own the Rose Hotel in Bunbury, and the Exchange Hotel in Kalgoorlie.
“Like the Rose Hotel and the Exchange Hotel, the Subiaco Hotel is a much-loved local institution with a long, rich history and we are proud to become only the second owners of the property and continue the tradition of one of Perth’s favourite pubs,” Mr Allan said.
“It is a grand building with great charm and an important Perth landmark, dating from 1897. We don’t plan to make significant changes, other than enhancing what is there and ensuring our offering is in line with the market.”
Allan and Douglas are used to working with revered, longstanding venues, having been awarded the 2017 AHA Redeveloped Venue of the Year for the Rose Hotel and runner-up in the 2019 WA Heritage Awards for Conservation or Adaptive Reuse of a State Registered Place for the Exchange Hotel.
“Dave and I have shared some great times at the Subi in our younger days and we have had our eye on it for a long time,” Douglas said. “It’s an ideal fit with our business model of refreshing iconic heritage hotels so they can again become vibrant, integral parts of their local communities.”
The sale of Subiaco Hotel was handled by JLL’s WA director Sean Flynn and Nicholas Agapitos, as well JLL national director John Musca and Peter Trinh of Richard Noble. The campaign prompted 120 enquiries and multiple bids.
“It’s been a huge response from across Australia and abroad and it’s fair to say that we spoke to the who’s who of publicans and developers,” stated Flynn.
“We are particularly pleased that Dave and Lawson have such a strong affinity with historic pubs and a proven track record in food and beverage.”
“It is a great result for the pub, for Subiaco and for the loyal patrons who have met there for decades, as well as for the next generation of patrons.”
Allan and Douglas will take over the pub in mid-October.