One of Sydney’s oldest pubs, Balmain’s The London Hotel, has been snapped up by a private pub investment group led by veteran operator Ray Reilly for $8.5 million | msccummins
One of Sydney’s oldest pubs, Balmain’s The London Hotel, has been snapped up by a private pub investment group led by veteran operator Ray Reilly for $8.5 million
Family representative and director, William Stevens said that as a family, “we thoroughly enjoyed our tenure at ‘The London’, making lifelong friends owning one of Sydney’s great hotels”. In the past month alone, close to $200 million of assets have changed hands from inner city corner sites to sprawling properties as far north as Byron Bay.
“Like our other recent sales, whether it’s the Great Northern Hotel in Byron Bay or the leasehold interest of the Haymarket Hotel in Sydney, current buyer depth is impressive with increased competition continuing to fuel growing asset prices,” Mr McDonald said.