Popular local the Crescent Head Tavern has been sold to a consortium of eager local mates, as the Gunns of The Tav look to family matters to the south.
The Crescent Head Tavern (CHT) is a large-format pub on Main St of the coastal town after which it is named, just blocks from the beach. It touts a public bar with TAB and single bar operation, well-appointed commercial kitchen and multiple dining areas, gaming room with four EGMs, sunny outdoor spaces and plenty of off-street parking.
It also counts a thriving bottleshop and takeaway food service, which both remained open during the pandemic shutdown.
Darren and Hanh Gunn have operated the pub since late 2010, building a consistently profitable trade averaging nearly $36k per week.
After a decade on the job, they decided now might be a good time to put more focus on their young family. In April the Tavern went to market, with the Gunns flagging a move to Port Macquarie near Darren’s parents, if and when it sold.
Crescent Head is found on the mid-north coast about five hours’ drive north of Sydney and home to around 1,000 people. It’s also home to the annual Malibu Classic surfing competition, riding its world-famous point break – one of the longest in Australia.
Taking the balance of the 19 years remaining on the Tavern lease is a syndicate of seven mates – four of them long-term Crescent Head residents, and three from Sydney.
Anxious to get started, they took the keys this week, closing the venue for two days for a whirlwind spruce up before reopening Wednesday night.
Dan Williams is both one of the new owners and the licensee, as well as one of those scrambling to pull together “a thousand details” to resume trade.
“We’ve been back open for two days and had to shut the doors both times when we reached the COVID numbers limit,” he reports. “It’s been really good start.”
Despite getting his name above the door, Williams won’t be running the day-to-day, the group bolstered by the addition of another old mate, also an experienced local bar manager and twice employee at the CHT under previous owners. Williams says he was the final piece of the puzzle that got the group to “have a lash”.
“We wouldn’t have bought it if we couldn’t find someone like him. The fact he’s a lifelong friend is a lot of comfort.”
Beyond lending a hand in busy times, Williams will mostly continue with his venture Regener8 Biodiversity Solutions, and is looking forward to getting everything running smoothly.
“We’re starting to see some light at the end of the tunnel. All the locals have been really supportive.”
Sale of the CHT operation was through Leonard Bongiovanni of Manenti Quinlan and Associates, in conjunction with Dan Maley of Gilchrist Business Brokers, finding buyers attracted to its local relevance and its coastal village location.
“As the only pub in a town with a historically-strong tourism trade, the new buyers recognised the value in acquiring this business,” offered Bongiovanni.
