Renovations loom as Arthur Laundy keys to Sydney’s Lord Nelson pub

Pub baron Arthur Laundy spent Monday taking control of Sydney’s heritage-listed Lord Nelson Hotel, which he has acquired for just under $20m.

Pub baron Arthur Laundy had been negotiating to buy the Lord Nelson in Sydney’s Kent Street since August.

Pub baron Arthur Laundy spent Monday taking control of Sydney’s heritage-listed Lord Nelson Hotel which he has acquired for just under $20m, saying he will never say no to buying more pubs to bolster his $1.6bn portfolio.

Mr Laundy, a billionaire who had been negotiating to buy the Lord Nelson in Sydney’s Kent Street since August, said that after the acquisition of the pub and brew house he would focus on renovating two of the larger hotels in his 90 plus pub collection, the Sofitel Hotel in Noosa and the Mirage Surfers Paradise.

Both hotels are owned in a joint venture with the Karedis family, but he is not closing the door on more acquisitions.

“If anything interesting comes along I will never say no,” said Mr Laundy, who has just returned from a stint playing golf in Palm Springs.

“I have bought two pubs in the past six months.”

The hotel tsar is planning to spend at least $55m on the major upgrades.

In Noosa he will decide this week on the new room decor for the major hotel and will spend $20m to $25m renovating the rooms and reception areas.

On the Gold Coast he has plans for a long overdue upgrade of the Mirage Surfers Paradise Hotel, saying he will spend at least $25m to $30m next year.

“That hotel is tired,” Mr Laundy said.

In Sydney, he also plans an upgrade of the popular Watsons Bay Hotel in the eastern suburbs. Meanwhile his son Craig Laundy, a former federal politician, has spent time upgrading and renovating the Tropicana Hotel on the outskirts of Sydney at Wilberforce which will soon re-open.

Arthur Laundy. Picture: Richard Dobson

Mr Laundy would not be drawn on the debacle involving the Australian Venue Co – the owner of more than 200 pubs and bars including many iconic venues in NSW, Queensland, Victoria and South Australia – which had directed managers not to allow flag wavers to celebrate in its establishments on January 26. However, the company quickly walked back those comments on Monday afternoon.

“We can see that our comments on the weekend have caused both concern and confusion. We sincerely regret that – our purpose is to reinforce community in our venues, not divide it,” an AVC spokesperson said.

“It is not for us to tell anyone whether or how to celebrate Australia Day. We acknowledge that and we apologise for our comments. It certainly wasn’t our intention to offend anyone.”

But another pub owner, former Qantas chief executive Geoff Dixon, said he would not be banning any Australia Day celebrations in his pubs.