Heralding a new focus on pubs, Harvest Hotels has expanded with the freehold going concern acquisition of Brady’s Railway Hotel for around $10 million.
Harvest is fronted by hospitality die-hards Fraser Houghton and Chris Cornforth, who wield a focus on strong operations in select regional precincts and already count operations in Tamworth, Yass and Orange. Brady’s brings Albury into the group’s circle.
“Our passion is pubs,” states Haughton. “Our aim has always been to operate the very best pubs in the very best regional communities; The Railway and Albury region really fit our vision for a Harvest Hotel and it will be a great next step for us.”
The new owners are set to take over 1 December from vendor David Attwood and plan to operate the pub as it is, to learn the ins and outs and get familiar with the locals. Haughton says it has “great bones” and a terrific history.
“It’s been run by some outstanding publicans over its years, and we can’t wait to make our own Harvest mark on The Railway in the future.”
This news follows Harvests’ reopening of Tamworth’s oldest and most iconic pub, The Courthouse Hotel, in early September, and they hope to continue the success momentum.
“We are ready to expand this offering into a different region and create a pub that the Albury community can enjoy the same way Tamworth has The Courthouse so far.”
The recent initiatives are inspired by the partners’ increased interest in the opportunities in the pub sector, and citing plans for further growth in the portfolio, they have determined to divest their Tamworth restaurant The Pig and Tinder Box, which they opened mid-2015.
“It has been a great springboard for us to grow our business, but now it’s time for us to channel our focus into the pub sector, which will now allow for the right operator to come and cement the offering of The Pig in Tamworth.”
