Another Central Coast pub for Laundy Hotels
By Vanessa Cavasinni, editor Australian Hotelier
Arthur Laundy has continued his Central Coast shopping spree, purchasing the Swansea Hotel.
Laundy Hotels purchased the hotel in New South Wales’ Lake Macquarie region for roughly $13 million from hotelier Phil Bernie. The hotel is located two hours north of Sydney and half an hour south of Newcastle on the Pacific Highway.
The hotel is housed on a generous 3235 sqm site, has 30 gaming machines and was completely renovated in 2015.
“We are very excited to be part of the future of the Swansea Hotel. The presentation and operation of the pub is a credit to the Bernie family and we look forward to maintaining its place amongst NSW’s premier coastal hotels,” said Nick Tindall, GM at Laundy Hotels.
Daniel Dragicevich and Ben McDonald of CBRE Hotels managed the off-market sale, which is the second transaction between Laundy Hotels and the Bernie family this year, when the Settlers Tavern exchanged hands in February.
“There has been a noticeable increase of investment recently in assets outside of Sydney by traditionally metro buyers and the high profile Laundy Hotel Group has been amongst those leading the charge,” stated Dragicevich.
The Central Coast continues to entice New South Wales hoteliers, with CBRE Hotels alone transacting seven regional and coastal News South Wales pubs with a value of almost $50 million this year.