The pub trade is on a hot streak, with investment so far this year already well ahead of the annual average as powerful family-run groups and fund managers take heart in the sector’s growth despite younger people drinking less.

That confidence is driving up the deals as investors scramble to snap up the best venues. One of the biggest pub transactions this year – and of any year – was Scott Didier’s purchase of The Beach Hotel in Byron Bay for $140 million from Redcape Hospitality. It’s the second-highest price paid for a pub on record.