The Whelan family empire has put to market its big heritage-listed Strathfield Hotel – for the first time ever in its 104-year history, with price expectations of more than $90 million.
During World War I, John Whelan made a gamble on a shipment of Scotch whiskey thought lost at sea. When the gamble paid off, he built the eponymous family’s Whelans Strathfield Hotel, directly opposite Strathfield railway station, on the new line linking Sydney and Parramatta.
Since opening in 1918, it has been in the hands of several subsequent generations of the family.
The large-format three-storey Federation-style pub boasts two large bar areas, with TAB and gaming room offering 30 machines, 2am liquor licence, bistro, bottleshop, and 25 accommodation rooms upstairs.
At one time it was one of the highest turnover keg pubs in Sydney. Still well patronised, the gaming operation currently ranks #83 in NSW, slightly down on its three-year average of #74.
The accommodation rooms were appointed to a high standard for their day, said to reflect a “traditional country style ambience”, and have been well maintained.
Annual revenue across departments is reported at north of $10 million, with high margin.
The pub is situated at the front of the sizeable 2,067sqm site, and the Whelans also hold approved plans for a mixed-use development to be built at the rear, comprised of 60 apartments, 14 additional hotel rooms, commercial and retail space.
This sale is the latest in a distinguished series of AAA-grade pubs being put to market by generational owners, as seen in the Stanford family’s sale of the Vineyard Hotel and Carousel Hotel, the recent sale of the Pendle Inn, and the $160 million record-breaking sale by property veteran Rob Macdonald of the Crossroads Hotel.
Grandson to the founder of the family business, Brian Whelan, lamented to the AFR the current generation of the family is now “beyond retirement age” and the younger members aren’t interested in working the family business.
There are now multiple generations of Whelans and descendants of John, and it was deemed best to arrange divestment of the asset via an invitational campaign, overseen by a legal entity.
HTL Property’s Andrew Jolliffe, Dan Dragicevich and Sam Handy were appointed to manage the private sales process, but unable to provide further detail.
“100 years of family operation – just think about that for a second,” posed Jolliffe.
