The Thomas Blamey Tavern in Lake Albert has sold for more than $25 million. Photo: Thomas Blamey Tavern.
Lake Albert’s Thomas Blamey Tavern has been sold for more than $25 million – a price tag exceeding the previous record for a pub sale in regional NSW.
The buyers, who made the purchase in an off-market transaction, are a consortium led by South Dubbo Tavern publican Lee Green, including renowned publicans Arthur and Stu Laundy, Sam Cruikshank and Sean O’Hara.
On a large block of 6110 sqm, the tavern includes a bistro, function space, a gaming room with 26 electronic gambling machines, a drive-through bottle shop and a large car park.
HTL Property director Blake Edwards managed the sale. He said after the buyers registered their interest, the vendor nominated their price and the buyers paid exactly what they wanted.
“Much like our recent sale of Albury’s Northside Hotel to Chris Cornforth’s Harvest Hotels on behalf of the Burke family, we often field discreet requests from our clients to secure for them strategically-identified properties; and that was the case with the transaction we curated on behalf of both the buyer and seller entities regarding the Thomas Blamey,” Mr Edwards said.
The property director said that while it has been a busy year for hotel transactions everywhere and property and real estate generally across the state, the sale was a testament to the local pub economy.
“I think pubs in Wagga are always easy to sell because people want them and people like them because it’s such a good region,” Mr Edwards said.
“Whenever someone wants to sell a pub in Wagga, there’s always a buyer.
“It’s a terrific result for pubs in Wagga and across the state of NSW and it can only happen because Wagga is such a great town.”
Mr Edwards added that the Thomas Blamey Tavern is the closest pub for a large catchment of people that live in the area. He said that hoteliers are always attracted to an “exclusive catchment”.
Lee Green is expected to be moving from Dubbo to Wagga Wagga to become the pub’s publican.
Original Article published by Max O’Driscoll on About Regional.
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