The historic Canobolas Hotel in Orange has been sold by Laundy and partners to a powerhouse partnership of the Sukkar family and former Icebergs Group, in a record deal and sign of the times for the region.
Canobolas Hotel was built in 1939 in the Art Deco style. Fondly known by locals as ‘The Nob’ it comprises public bar, bistro seating, gaming lounge with 14 EGMs, beer garden, first floor Chesterfield’s bar, two large function rooms with bar, plus 45 ensuited and refurbished accommodation rooms.
It has been owned and operated by a partnership of hotel king Arthur Laundy, with Mark Dalton and Philip Tudor, who bought it in 2003 for $3 million.
“We welcome the Sukkar family to Orange and look forward to remaining involved with the local community through our other businesses,” offered Philip Tudor, who said the decision to sell was not one the families made lightly.
It has been purchased for around $25 million, said to be a record for the town, by the Sukkar family, owners of construction giant Buildcorp, in partnership with The Point hospitality group.
The Point is the rebranded Icebergs Group, headed up by Damien Reed and Deke Miskin, and celebrity chef partner Maurice Terzini. The outfit counts venues The Dolphin Hotel, Harpoon Harry’s, Bondi Beach Public Bar and Icebergs Dining Room.
The new owners will retain the current staff, and an existing employee will take up the role of licensee and GM. Buildcorp’s Mark Tonkin stressed staff “are number one” and that it would be business as usual at the pub initially while they consider options on the Hotel.
“We want to be an active participant in the local business community, become part of the fabric of Orange, and contribute to the prosperity of the town and wider central west region.
“Our vision is to give the Hotel Canobolas a thoughtful facelift that celebrates its original heritage features and identity. We plan to begin with the ground floor bar and bistro before renovating the ballroom, upstairs bars and function spaces, then moving onto the accommodation.”
Orange is said to be one of the towns leading Australia’s regional revival, boasting a population explosion that has overtaken Bathurst and Dubbo, and annual visitor numbers growing 63 per cent in 2020, to more than 1.8 million people.
The Nob will change hands this month, chalking up a trifecta of standout 2021 sales for the town after the nearby Royal Hotel sold in April and Robin Hood Hotel sold in March, each for circa $20 million.
“To achieve a record sale price following such strong recent results highlights the incredible strength of the market,” says Manenti Quinlan’s Leonard Bongiovanni, who negotiated the off-market campaign.
“But there’s still plenty of potential for the new owners to take it to the next level.”
