The Old Pub sold for $32M

From left, Directors Fraser Haughton and Chris Cornforth

The historical Woy Woy Hotel is set to undergo a facelift after being acquired by a regionally focused hospitality company.

Built in 1897 and commonly referred to as “The Old Pub”, the Woy Woy Hotel is the first acquisition to be made via hospitality company, Harvest Hotels’ second fund – Harvest Pub Fund 2.

It features a large public bar, separate drive through bottle shop, gaming facilities, beer garden, a restaurant, and is centrally located on The Boulevarde with views of Brisbane Water from its Brick Wharf Road street frontage.

Harvest Hotels Director and Co-Founder, Fraser Haughton, said he was looking forward to becoming a part of the local community and embracing the potential of the pub.

“The Woy Woy Hotel strongly aligns with what we look for when acquiring a pub – it has good bones, a terrific reputation within its’ community, is centrally located, provides a great mix of revenue and diverse offerings for its patrons,” Haughton said.

“To date, the venues that we operate have all been in major rural regional centres, so when the opportunity to purchase this iconic coastal venue arose, we felt it was the perfect addition to our portfolio and the right pub to kick off Harvest Pub Fund 2.

“The Woy Woy Hotel has been owned by the McIntyre family for more than 20 years and they have been fundamental to its success, so we certainly have big shoes to fill.”

The Harvest Pub Fund 2, which plans to acquire another three venues, purchased the pub for $32M, with Harvest Hotels set to take over from December 6.

Harvest Hotels said they would maintain the authentic atmosphere of The Old Pub whilst undertaking some capital works to expand its offering.

The Woy Woy Hotel joins the company’s portfolio of now six venues that are spread across major regional centres including Tamworth, Wagga Wagga, Dubbo and Albury.

Source:
Media release, Oct 11
Harvest Hotels

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