Prominent Sydney developer Lyon Group has struck the first notable pub deal of 2025 after emerging as the buyer of the historic Hotel Australasia in Eden on the NSW South Coast.

The 121-year-old hotel was the first pub acquired by collapsed hospitality investor and developer Virtical and is the final asset to be sold by administrators and receivers after the group’s main financier, Bond Finance – run by Sydney’s Morello family – took action to protect its interests.