Classic Local Pub the Five Dock Hotel Has Been Bought for a Casual $28.75 Million

It's an undeniable fact that when it comes to variety in drinking holes, Sydney is spoiled for choice. From whisky bars to microbreweries, to cocktail bars and establishments that specialise in fried chicken and Champagne, there's always a fresh way to whet your whistle.

A reoccurring theme of late, however, is the renaissance of the pub. The people's pub. A pub with sports on the TV and a pool table where you can pronounce all of the beers on tap. The Five Dock Hotel has always been counted among the number of such venues, and a recent change in ownership seems to perpetuate the preservation of the pub.

Former rugby union barnstorming loosehead legend Bill Young acquired the venue from the Lantern Hotels group last November for a cool 28.75 million dollarydoos. The sale — along with the group's sale of the Waterworks Hotel in Botany shortly after — has sparked speculation that the company will be delisted in the not too distant future.

It's not yet clear how the former Wallaby intends to approach the new digs, but at the moment the wine lists boasts a few solid Australian numbers and the taps are filled with Aussie favourites. Given Young's growing portfolio of hospitality venues, it doesn't look like a complete revamp of the Five Dock is on the way. Under the Young Hotels umbrella, he also owns nearby pubs the Palace Hotel in Mortlake and Hotel Concord in Concord West, which are both venues the tend towards the classic local pub that fit their respective locations perfectly.

It would be impossible to maintain a lifestyle where every night out included cocktails garnished with fairy floss served in a glass slipper, or a 300-year-old single malt Scotch distilled in a cave by blind nuns. The good ol' local is a sure bet when it comes to serious relaxation, and Bill Young's latest purchase looks set to carry on that tradition of the pub down the road.

The sale comes as pubs all over Sydney are changing hands. The Tennyson on Botany Road was recently sold to Merivale for $37.5 million, Matt Moran's Solotel last month acquired the Clovelly Hotel and Oxford Street's Gaslight Inn has just been sold too.

Via The Sydney Morning Herald.