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The Great Northern Hotel in Byron Bay sold by the Mooney family after nearly 30 years of ownership

By on June 28, 2021 0

The Great Northern Hotel in the heart of Byron Bay has been bought by two Melbourne businessmen for what would be around $ 80 million, one of the biggest hotel sales to date in 2021.

Longtime owners, the Mooney family, landed the iconic pub and adjoining 51-room hotel after receiving a constant stream of unsolicited offers from tax collectors and wealthy families across the country, drawn to the booming tourist town on the north coast of New South Wales.

The 2,000 square meter property sits on one of Byron’s main streets, just a few blocks from the beach. The pub has a large music room, 20 first-floor accommodation rooms, a restaurant, bars and a drive-thru bottle shop, while the neighboring 51-room hotel has been developed by the Mooneys in 2009.

The pub’s new owners are Scott Didier, founder and CEO of ASX-listed Johns Lyng Group, and Scott Emery, founder of online lender MoneyMe. Mr Didier’s family acquired the 51-room Lateen Lane Hotel, along with his daughter Casey, who lives in Byron with her family, responsible for managing day-to-day operations.

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He is also the owner of the luxurious Beach Suites in Byron Bay, as well as the East Brunswick Hotel in Melbourne.

The sale includes the pub and an adjoining 51-room hotel.

“Scott and I are delighted to be the new Guardians of the North and to have the privileged opportunity to engage with the local community in the next incarnation of this very special pub,” said Didier. “And my family is so excited about The Lateen Lane Hotel and what we can create there. “

The off-market sale was handled by John Musca and Ben McDonald of JLL Hotel, along with their colleague Andrew Langsford. They refused to disclose the sale price, but the Australian Financial Review says that according to residents of Byron Bay, the price is close to $ 80 million.

“While this sale represents the biggest advertising transaction of 2021, we believe the history of Byron Bay still has a long way to go,” said Ben McDonald, senior vice president of JLL Hotels.

The Australian pub market has been on fire in 2021, with notable deals so far including Justin Hemmes’ Merival group buying their first pub outside of NSW, the Lorne Hotel, for $ 38 million, the former Wallaby Bill Young buying the Royal Hotel, in Ryde, north-west Sydney, for $ 37 million, and Sam Arnout’s Iris Capital taking over the Ivanhoe Hotel, on the Corso in Manly, on the northern beaches of Sydney for $ 57 million.

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