Justin Hemmes’ empire has announced another $62 million in acquisitions, expanding in Sydney’s inner west with Norton’s Irish Pub and the Lorne Hotel, south of Melbourne.
Mere metres from Lorne’s main beach, the Lorne is the end destination for the famed ‘Pier to Pub’ swim. It features a public bar and extensive beer garden, bistro and large restaurant, function room, gaming with 10 EGMs, accommodation and four adjacent holiday apartments.
It has been owned for more than a decade by the Upham family, who in recent years reinvented the Hotel as a foodie destination, incorporating exclusive instalments of acclaimed Melbourne restaurants ‘MoVida Lorne’ and ‘Coda Lorne’ within the venue.
Paul Upham reports they are very happy with the sale result, and that their pride and joy is in safe hands.
“We leave knowing that the residents of Lorne and tourists that visit our beautiful town will have an amazing experience when visiting the venue.”
The historic Lorne has stood sentry on Victoria’s Great Ocean Road for more than a century.
The $38 million sale furthers Merivale’s Victorian portfolio following news last month of the purchase of Tomasetti House, and its collection outside Sydney, after purchase of the Quarterdeck in Narooma earlier this year.
“The Lorne Hotel is an iconic venue in a truly spectacular location,” offered Merivale CEO Justin Hemmes.
“It has been an absolute pleasure getting to know John and Paul Upham, who have been the proud custodians of the venue for the last eleven years; we feel honoured to continue their legacy and help usher the pub into the next phase of its incredible 145-year history.”
Peter Walker bought the Irish-themed PJs Leichhardt, on the corner of Norton Street and Parramatta Road, in 2016 from industry faithfuls Patrick Gallagher and John Daly, for around $14.5 million.
A long-time hotelier, Walker had recently divested his interests in the Matraville, Punchbowl and Campsie hotels. He tweaked the moniker to Norton’s Irish Pub.
It has now sold again, entering the Merivale collection for a reported $24 million, joining the group’s inner west collection already counting Marrickville’s Vic on the Park, Enmore’s Queens Hotel and Rozelle’s 3 Weeds.
The 3 Weeds will reopen later this year, having enjoyed an extensive refurbishment that will debut Italian eatery Totti’s to the inner west.
“It is such a privilege to be part of Sydney’s vibrant inner west,” furthers Hemmes. “Every suburb has a unique energy, and their local pubs play a special role in shaping their culture.
“We’re excited to not only expand our inner west pub portfolio, but reopen doors to the 3 Weeds, a beautiful and much-loved local institution, this Spring.”
Merivale takes the keys to Norton’s in June, reporting it will trade as normal, with plans to be announced in due course.
They take the reins at the Lorne later this year and will trade as normal over the summer.
