Beloved Neutral Bay Venue The Oaks Hotel Is Up for Sale with a $175 Million Price Tag
Long-term custodians the Thomas family have put the Sydney stalwart up for sale after nearly 50 years of ownership.
Beloved Neutral Bay stalwart The Oaks Hotel is currently on market for the first time ever with longstanding owners the Thomas family looking to pass on the pub after nearly 50 years of custodianship. The venue is accepting expressions of interest via JLL Hotels & Hospitality Group with an expected price tag of over $175 million.
David Thomas took over ownership of the hotel with help from his mother Alana of the Tooth and Co. brewing company in 1975. Over the next five decades, the pub become one of Sydney's most popular drinking holes, boasting a beloved beer garden situated around an 80-year-old English oak tree. While the bistro has taken many shapes over the years, The Oaks has affirmed itself as a go-to in the area for pub feeds, casual drinks and sporting events.
"On the back of a spate of unsolicited approaches it just feels like the right time for the family to move on and we'll leave the Oaks with fond memories and many friends," Andrew Thomas said. "It holds a very special place in the Australian hotel landscape, and we look forward to seeing its next incarnation under the new custodians."
JLL's statement on the venue promotes it as a 2188-square-metre space, with 30 poker machines, high-end bottle shop and mixed-use zoning with potential for five-storey development.
"It is difficult to imagine any hotel in the country evoking as much emotion, brand heritage and rites of passage than the illustrious Oaks Hotel," JLL Senior Vice President Ben McDonald said. "It's going to be a remarkably fulfilling asset for the next lucky generational owners."
The Thomas family also holds ownership of the Winston Hills Hotel and The Entrance Hotel which they will continue to run.
Expressions of interest for The Oaks Hotel will close on Tuesday, September 6.
The Oaks Hotel is located at 118 Military Road, Neutral Bay. For more information on its sale, contact JLL Hotels & Hospitality Group.
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