Former Sydney Mayor Nelson Meers has shelled out $160million for the Crossroads Hotel in the western suburbs, the site of one of the biggest COVID-19 outbreaks of 2020, setting a record for a pub sale Australian.
The sale of the Casula pub, 34 kilometers west of Sydney, blows the highest price previously paid by MA Financial Group when it bought the Beach Hotel in Byron Bay for $104 million from John” Strop” Cornell in February 2020.
Situated on 3 acres of land at the junction of the Hume Highway and the Camden Valley Way, the Crossroads was sold by former real estate veteran Rob Macdonald. The pub was the site of a major outbreak of the Delta variant which preceded lockdowns across Sydney.
Meers AO was Lord Mayor of Sydney from 1978 to 1980, but established himself as a pub baron after buying the Belmore Hotel in Sydney’s Canterbury-Bankstown district for $50 million in 2019 and the Hurstville Ritz Hotel for $45 million in 2017.
We are very pleased to continue to serve this growing, dynamic and large community as we seek to expand this type of high quality offering across our hotel network.
Simon Meers, CEO Nelson Meers Group
His son Simon runs the pubs and said the Crossroads Hotel is a key strategic acquisition for the business. The hotel’s successful catering model serves over 4,000 diners each week.
“We are very pleased to continue to serve this growing, vibrant and large community as we seek to expand this type of high quality offering across our hotel network,” Meers said.
Meers senior is also involved in philanthropic work, establishing the Meers Foundation with his daughter Samantha to support the arts. Meers and his wife, Carole, reportedly paid $17.5 million for a 235-square-meter apartment on the 71st floor of Crown’s One Barangaroo tower.
The fast-paced pub industry has seen a frenzy of transactions. Last year, the Stanford family sold the Vineyards Hotel for $70 million and the Carousal was acquired by Bruce Solomon’s Solotel for $68 million in 2021.