Arthur Laundy and his Redfern partners have offered to market their refurbished, undercooked local, on the fringe of the Sydney CBD.
In 2021 the pub king collaborated with new operators Aaron Crinis and Justin Tynan to buy the three-storey suburban hotel.
Crinis is proprietor of acclaimed North Sydney restaurant Glorietta, but this was his first pub. The plan was to bring an upscale foodservice. He has known a connection to the Laundys through his father-in-law, who is an old friend.
Tynan became COO for Laundy Hotels the same year, overseeing day-to-day operations in the family’s sizeable and ever-growing portfolio.
“The area is moving forward, and I’m looking forward to this new partnership,” pronounced Arthur at the time.
The Woolpack is located within a high-density residential catchment, at the eastern end of Redfern’s main retail and commercial area, and a short walk from Redfern Oval and train station, serving around 70K passengers daily.
The Hotel hosts a public bar with street seating and live music, bistro, gaming with 13 machines (amber zone), bottleshop, and accommodation rooms on both the first and second floors.
Since purchasing, the trio have executed significant capital works, but cite a need to focus on their respective other interests as rationale behind the sale.
The pub is well patronised by a healthy mix of both local residents and business professionals, reporting current weekly revenue of circa $60K, through food & beverage, gaming and retail.
An incoming operator could benefit from refurbishment or repositioning of the dormant upper floors.
The Woolpack is likely to fetch north of $13 million, and would be best suited to a hands-on operator with a strong community focus.
It is being sold via Private treaty through JLL Hotels’ Ben McDonald and Kate MacDonald.
