Sydney’s former Lord Mayor Nelson Meers has shelled out $160 million for the Crossroads Hotel in the western suburbs, the site of one of 2020’s biggest COVID-19 outbreaks, setting a record for an Australian pub sale.
The sale of the pub in Casula, 34 kilometres west of Sydney, blows away the previous top price paid by MA Financial group when it purchased the Beach Hotel in Byron Bay for $104 million from John “Strop” Cornell in February 2020.
The Crossroads Hotel was sold by the MacDonald family.
Sitting on 1.28 hectares of land at the junction of the Hume Highway and Camden Valley Way, the Crossroads was sold by former property veteran Rob Macdonald. The pub was the site of a major outbreak of the Delta variant that preceded lockdowns across Sydney.
Meers AO was Sydney Lord Mayor from 1978 to 1980, but has made his mark as a pub baron after purchasing the Belmore Hotel in the Canterbury-Bankstown area of Sydney for $50 million in 2019 and the Hurstville Ritz hotel for $45 million in 2017.
We are very excited to continue to serve this growing, vibrant and broad community as we look to expand this type of high-quality offering across our hotel network.
Simon Meers, CEO Nelson Meers Group
His son Simon runs the pubs and said the Crossroads hotel is a key strategic acquisition for the company. The hotel’s successful food and beverage model serves more than 4000 diners each week.
“We are very excited to continue to serve this growing, vibrant and broad community as we look to expand this type of high-quality offering across our hotel network” Meers said.
Meers senior is also involved in philanthropic work, establishing the Meers Foundation with his daughter Samantha to support the arts. Meers and his wife, Carole, reportedly outlaid $17.5 million for a 235 square metre apartment on the 71st floor of Crown’s One Barangaroo tower.
The hectic pub sector has seen a frenzy of deal making. Last year, the Stanford family sold the Vineyards Hotel for $70 million and the Carousal was snapped up by Bruce Solomon’s Solotel for $68 million in 2021.
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