The famous Sydney establishment is expected to set a new pub sales record, eclipsing the $160 million paid for Casula’s Crossroads Hotel.
One of Sydney’s best known pubs, The Oaks Hotel on Military Road in Neutral Bay, has been put on the market for the first time in almost 50 years with a record-breaking asking price of $175 million.
Should it find a buyer at $175 million, or close to that amount, it will be the highest price ever paid for a pub, eclipsing the $160 million paid in April by former Sydney Lord Mayor Nelson Meers for theWith their trophy status and inflation-busting, cash-flow-rich operating businesses, pubs have become one of the hottest asset classes since the sector reopened after the first wave of the pandemic.
Extensively renovated in 2019 by the Thomas family, headed by David “Taffy” Thomas, The Oaks includes Taffy’s Sports Bar, Alala’s Cocktail Bar, Bar and Grill Restaurant, the beer garden, a gaming room with 30 poker machines, extensive first-floor function spaces and a bottle shop.character actor, has been popular for years with famous identities and sports stars.
Family representative Andrew Thomas said following a number of unsolicited approaches to purchase The Oaks, the family felt it was the appropriate time to move on.
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