The Illawong Hotel at Evans Head has sold for $14.5 million, to the same buyers who bought the Lennox Hotel for more than $40 million earlier this year.
A Sydney based syndicate that includes Laundy Hotels, Fraser Short of hospitality group, Sydney Collective, and Nick and Justine Tindall (nee Laundy), bought the art-deco building, which is set directly opposite the Reflections Caravan Park on the Evans River foreshore.
"We think this is just a sensational coastal hotel in a town that's already on a great trajectory," said Nick Tindall in a statement.
"While we see potential for growth by unleashing the efficiencies of our network, we're not going to make any massive changes to the hotel or its operation. Fraser Short and the amazing team at Sydney Collective have a great eye for detail, so adding a little of that polish will be all that the locals will notice. Justine and I are excited to be partnering with them, as well as her broader family.
The Illawong Hotel is the only pub in the burgeoning coastal town, and selling agent Nick Butler of Pub Brokers & Advisory said it was an important factor for the owners in making their decision to sell that the hotel "would transition to a family that appreciates how important the pub is to the town."
Outgoing leaseholder, Daniel Simpson, said he had loved his time at the Illawong.
"I've enjoyed overseeing the expansion of the business during my tenure. The town of Evans Head is booming, with residential and commercial developments set to boost the population and activity.
"I wish the new owners all the best and look forward to seeing the next phase of the hotel's evolution. I thank my staff for their hard work and support over the years as they have made the hotel what it is."
In addition to their purchases of the Lennox and Illawong Hotels, the Laundy's were said to have recently been engaged in a bidding war to buy the historic Bangalow Hotel. It was rumoured Stu Laundy and hospitality mogul, Justin Hemmes, fought it out, with bids reaching up to $50 million, but the pub owned by Tom Mooney, who also owns The Rails in Byron Bay, appears not to be for sale.