Popular Aussie pub for sale for $20 million

One of Sydney’s most recognisable pubs is on the market, with expectations of fetching an eye-watering price.

A popular pub in Sydney’s eastern suburbs is the latest watering hole to hit the market, and it is expected to fetch $20 million.

Owners of the Light Brigade Hotel, the Bayfield family, plan to sell the venue in Woollahra after experiencing a resurgence within the pub sector that has sparked fresh investor interest after the Covid-19 pandemic.

The three-storey high hotel at the top of Oxford Street has been a staple within the Sydney nightlife scene since the 1880s.

The Bayfield family bought the pub seven years ago for about $9 million. They spent a further $5 million on renovations, including the addition of a rooftop bar which boasts some of the best city views. It is also an in-demand pub for sporting fans visiting Moore Park Stadium.

Brothers Wayne and Marc Bayfield at the Light Brigade Hotel rooftop bar in Woollahra, after it’s renovation. Picture: John Appleyard

It will be sold by HTL Property agents, Andrew Jolliffe, Dan Dragicevich, and Sam Handy who specialise in investment sales across the hospitality industry.

The Bayfield Family are said to be concentrating their efforts on their Dee Why and Belrose pubs, having sold the Newport Arms in 2015 to fund the Light Brigade property.

Mr Jolliffe from HTL Property said the hotel has been put up for sale due to numerous unsolicited inquiries and he expects interest from local, interstate and international buyers.

Andrew Jolliffe co-founder of HTL Property also sold The Hollywood Hotel in Surry Hills. Picture: Richard Dobson

Other major recent pub deals include the sale of the Scarborough Hotel on the NSW south coast. The pub changed hands from billionaire Bruce Gordon to Sydney’s newest hotel baron, Glenn Piper, for $9.5 million.

The Ancient Briton pub in Glebe NSW, affectionately known by locals as “The AB” made headlines when it sold for $25 million to prominent pub landlords the De Angelis family.

The multi-level pub in Sydney’s inner west was sold by the Seeto family, who owned and operated the Glebe corner pub for the past two decades.

Village Tavern on the Grove Way, also owned by Charter Hall. Picture: Supplied by JLL

Highbury Hotel in South Australia, owned by Charter Hall. Picture: Supplied by JLL

Most notably, Australia’s biggest pub landlord and Fund Manager, Charter Hall, paid a whopping $57 million combined for the purchase of the Highbury Hotel and Village Tavern in Golden Grove, South Australia.

The sale to Charter Hall in January drove the value of pub deals to almost $200 million.

Both hotels were listed for sale by well-known Sydney investor David Fitch.