The Gem Hotel is in the centre of Griffith’s CBD. Photo: Gem Hotel Facebook.
Griffith’s Gem Hotel and Bull & Bell Steakhouse has been sold by New England publican Jim Knox and purchased by former rugby union international and ACT Brumbies player Bill Young.
Accommodation brokerage agency HTL Property announced the successful sale of the venue this week, after the property had been on the market since mid-June. The Australian Financial Review has reported that Mr Young bought it for $50 million, which would make it one of the most expensive regional Australian pub purchases in history.
The 2547 sqm Gem Hotel has an annual revenue of $13 million. It has 29 poker machines, two bars, 65 rooms for accommodation and the Bull & Bell Restaurant, which was named one of the world’s top 100 steakhouses in 2023.
Bill Young, 51, was a loosehead prop who played for the ACT Brumbies 100 times and made 46 appearances for the Wallabies, including during the 2003 Rugby World Cup. Since retiring, he has ventured into the pub business, buying several Sydney establishments including the Five Dock Hotel, The Concord Hotel, the Palace Hotel Mortlake, the Illinois Hotel in Five Dock, the Royal Hotel Ryde and Bar Broadway. The Gem Hotel represents his first regional purchase.
“We’re delighted with the acquisition of The Gem, and look forward to further enhancing the already outstanding reputation the hotel and the proud Riverina district is known for,” Mr Young said.
The vendor Jim Knox also owns the Griffith Hotel (the Griff), irrigation equipment supplier Watertek Griffith and several pubs in Armidale and Moree. He bought Griffith’s Area Hotel for $8 million in 2019 and sold it to local Trent Middleton for $30 million in 2024.
“We have slowly been working towards moving our business interests back to the Northern Tablelands, where we live. That is what prompted the sale last year of the Area Hotel,” Mr Knox told the AFR when the sale of the Gem was announced.
The Bull & Bell Restaurant was named as one of the world’s top 100 steakhouses. Photo: Bull & Bell Facebook.
HTL Property Director Xavier Plunkett described the Gem Hotel as a “trophy grade” asset.
“The patent economic strength enjoyed by Griffith and its surrounding area and driven primarily by agriculture, manufacturing and viticulture, provides a robust platform for sustainable long-term hotel trade,” HTL Property Managing Director Andrew Jolliffe said.
Mr Knox said: “The Gem has been an extraordinary part of our business journey. We are proud of the scale and reputation the hotel has achieved, and I’m confident it is in excellent hands with Bill Young and his team.”
