Arthur Laundy and family have emerged as the successful buyers of the Bayfields’ iconic Light Brigade Hotel of Paddington.
Crowning the intersection of Paddington-Woollahra since the 1880s, the three-storey pub boasts two street frontages, over Oxford St and Jersey Rd.
In 2015 the Bayfield family bought it from veteran Dean Haritos and executed a $5 million staged capex program, bringing about the hugely popular Light Brigade Rooftop.
“We’ve thoroughly enjoyed our time with this magnificent property, and as an extended family we are collectively delighted the hotel has been bought by such an esteemed group in the form of the Laundys,” says Kaine Bayfield, who is serving his time as captain of the multi-generational pub group.
Although best known in recent years for sprawling establishments in Sydney’s greater west, the Laundys are well versed with the east, having owned several hotels in the area, including the nearby Woollahra, leased from Tooth & Co in 1954.
The Laundy portfolio now grows via the advent of another eastern suburbs hero, to the tune of about $20 million.
“We’re looking forward to adding the Light Brigade to our other eastern suburbs properties like the Watsons Bay, Bells and Woolloomooloo Bay hotels,” offered Stu Laundy.
“A few generations ago our family owned the Woollahra Hotel, and my father played rugby down at Easts, so with my four daughters all having attended school in the area, I’m looking forward to a long association with a part of Sydney we love and know well.”
The Bayfields put the property to market in April, through HTL Property’s Dan Dragicevich, Sam Handy and Andrew Jolliffe, who suggest the transaction underscores the appeal of A-grade hotels, as “the cadence of Sydney pub sales quickens”.
“When fourth-generation hoteliers buy from fourth-generation hoteliers, it says something patently clear about the longevity and strength of an asset class,” poses Jolliffe.
