The Laundy Group continues its growth into growth areas, buying yet another Central Coast hotel to fit into its “jigsaw”.
The Settler’s Tavern is close to the West Gosford commercial hub, central to the town’s 13,000 business and 65,000 employees. Gosford itself is home to around 170,000 people.
Previously owned by well-known former AHA President Bob Bourne, it was purchased by the now late Phil Bernie and his wife Marj, who refurbished it and went on to earn awards for the prized local.
Agents for the Bernie family were Manenti Quinlan & Associates and Thomas Cooper & Co of Newcastle. Gerry Quinlan told PubTIC the Laundys have committed strongly to operations in regional New South Wales and recognise the opportunity.
“While yields in the city are now confirmed around 10 per cent, sales such as this will demonstrate a yield around 30 per cent of that again,” reported Quinlan.
Building on his regional presence, most recently including the Tea Gardens Hotel, Arthur Laundy points to big things for the district.
“We already have established patronage at our other Central Coast hotels, Long Jetty, Chittaway Bay and Bateau Bay.
“The acquisition of the Settlers Tavern fits perfectly in the jigsaw.
“The lifestyle enjoyed by residents of the Central Coast is enviable and we see strong growth over the next two decades.”
