Returned expatriate Adam MacFarlane has snapped up the 151-year-old Lord Roberts Hotel in Darlinghurst for $22.5 million as his maiden pub purchase.
Forex trader and returned expatriate Adam MacFarlane has joined the rush of wealthy investors buying trophy Sydney pubs, after purchasing the 151-year-old Lord Roberts Hotel in Darlinghurst for $22.5 million.
The three-level, bright yellow venue on the corner of Stanley and Riley Streets – known by locals as the “Lord Bob” – was put up for sale in May by long-time owner-operator Sue Cameron.Mr MacFarlane, who returned to Sydney in December after 15 years abroad – the last seven of which were spent in Los Angeles where he founded global forex company VIA FX – will get the keys to the hotel in early September.Mr MacFarlane said you couldn’t find two hotter asset classes than pubs and foreign exchange.
“People say pubs are part of our DNA and I agree with that. They’re where we go to celebrate or commiserate,” he said. Regarding the decision to purchase the Lord Roberts, Mr MacFarlane said he drove past it every day on his way into work and then stumbled upon its listing online.“It’s a community pub in a great pocket in the city, one that is not a lot different from when I left,” he said.
The deal, brokered by Savills Hotels’ Nick Butler, Selin Ince and Nick Lower, follows a number of prominent inner Sydney watering holes changing hands this year, including former Qantas chief executive Geoff Dixon selling the Nag’s Head Hotel in Glebe in the inner west for $12 million to hotelier Marcello Colosimo.
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