Thomas family call last drinks at The Oaks with $175m price tag | msccummins
After five decades of ownership, the Thomas family are calling last drinks at their sprawling Oaks pub on Sydney’s lower north shore. A price tag of about $175 million is expected, which would make it the biggest sale in the sector’s history.
In May, the well-known Minskys Hotel, also on the lower north shore, sold for $39 million to the Karellas family with publican Mitchell Waugh.The Thomas family bought the leasehold of the 2188-square-metre property in 1975 from Tooth & Co and have worked to make it the most well-known pub in the area.
Boosting the pub’s price tag is the mixed-use zoning and favourable planning guidelines that will enable a new owner to add five levels to the site.
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