Mitchell Waugh’s newly-formed Public House Management Group (PHMG) has bought the first pub sold by the Ryan Family since 1992.
Purchased by John and Sally Ryan in 2011 for around $15 million, the famous Woollahra Hotel – home of one of the original gastro pub concepts, Damien Pignolet’s Bistro Moncur – has sold for an undisclosed amount.
PHMG formed in May of this year, and has already acquired Paddington’s Royal Hotel for $15 million, Mosman’s Buena Vista for $16 million, and one of inner-Sydney’s oldest pubs, the Forbes Hotel. It also assumed operations of the Waugh Group’s newly-renovated The Collaroy.
The discreet, off-market transaction of the Woollahra was conducted through Ray White Hotels. Agents Andrew Jolliffe and Joel Fisher report being honoured to represent the Ryans in such a selective sale.
PHMG remains tight-lipped over plans for the influential gastro pub, but reports to PubTIC plans will be revealed shortly.