11 Most Expensive Pub Sales in Australia: The $1.2b Golden Age of Trophy Hotels

The famous Oaks in Neutral Bay just sold for $AUD140 million. For a place most people still think of as a relaxed beer garden, that number feels slightly out of step, even with its gorgeous Oak tree in the beer garden.

But that astronomical number isn’t so out of the ordinary these days. The pubs you once called your local are now trading at prices that push well into nine figures, with most of the biggest deals clustered in Sydney.

But not all pubs are built the same anymore. Some are all-day food and drink venues. Some are built on the profits from gaming machines, while others sit on land that’s just as valuable as what’s on top of it. That’s what these prices are really tracking.

And of course, it doesn’t hurt that most of these venues are also just a great place for a drink, whether it’s a family day out at The Vineyard or a late night at The Oaks. And who hasn’t had a late night at The Oaks at least once in their life?

The 11 Most Expensive Pub Sales in Australia

1. Crossroads Hotel, Casula ($AUD160 million)

The Crossroads Hotel in Casula set the benchmark for pub sales back in 2022, selling for around $160 million in a record deal to the Nelson Meers Group.

Sitting on the Hume Highway at the junction with Camden Valley Way, this massive 1.28-hectare pub has it all. It’s bistro turns over more than 4,000 meals a week; there’s a dedicated sports bar, function spaces, rooms for accommodation (yes, it’s an actual hotel), and a gaming lounge with more than 30 machines.

Ranked ninth on the NSW Government’s 2021 list of most profitable gaming pubs, venues like this aren’t just built on schooners and schnitzels anymore.

The Meers family already owns a string of large-format venues across Sydney, including the Belmore Hotel in Burwood ($50 million in 2019) and the Ritz Hotel in Hurstville ($45 million in 2017). So it’s no wonder the Group has been described as one of NSW’s largest, privately owned hospitality and real estate companies.

Crossroads Hotel details:

• Address: Cnr Hume Hwy & Camden Valley Way, Casula NSW 2170
• Website: crossroadshotel.com.au
• Opening Hours: Mon–Sat 10am–4am; Sun 10am–12am (Bistro closes earlier)

2. The Oaks, Neutral Bay ($AUD140 million)

Tied for the second-highest pub sale ever recorded in Australia, The Oaks Hotel in Neutral Bay sold for $140 million this year, with Gallagher Hotels adding another establishment to its growing portfolio, including Jacksons on George (bought for $20 million in March 2025), The Longueville Hotel in Lane Cove ($50 million in 2022) and the Railway Hotel in Fairfield ($47.5 million).

With the addition of one of the most popular and well-known pubs north of the Harbour Bridge, it’s a portfolio that rivals the likes of the Laundy family and Merivale’s Justin Hemmes.

You only have to take one look at the 80-year-old oak tree at the centre of the beer garden to understand why someone is willing to pay nine figures. Flanked by Taffy’s Sports Bar, Allalas, and the classic Bar & Grill, it’s got everything a classic pub needs.

Plus, the venue has only recently undergone upgrades, particularly across the upstairs and gaming areas. The Gallaghers have made it clear there won’t be any major overhaul, aside from a few tweaks around the edges.

Speaking to Australian Hotelier, Patrick Gallagher said, “I’m a bit stunned, because I didn’t think I would ever run such an iconic pub. It’s one for the generations and for my descendants; I’m really proud to own it. It’s a bit of a climax for my career.”

The Oaks details

• Address: 118 Military Road, Neutral Bay NSW 2089
• Website: oakshotel.com.au
• Opening Hours: Mon–Sun 10am–late (Bar & Grill from 11:30am)

3. Beach Hotel, Byron Bay ($AUD140 million)

The Beach Hotel in Byron Bay, better known as “The Beachy”, sold for $140 million in 2025 to businessman Scott Didier and his family, after previously changing hands for $104 million in 2020.

Sitting across from Main Beach, you’ve probably ended up at The Beachy at some point. Now tied with The Oaks as the second-most expensive pub sale in Australia, it joins a property portfolio that includes the Byron Bay Beach Suites and a stake in the Great Northern Hotel and Hotel Marvell.

Speaking to the AFR, Didier said: “The Beach Hotel is iconic, not just to Australians but to the many international visitors who love Byron Bay’s unique atmosphere and spectacular waterfront.”

And they’ve promised to nurture “this magnificent asset for generations to come.”

Whether you’re there for a drink in the sunshine or a session well past sunset, it’s not hard to see why this pub sold for $140 million.

Beach Hotel (The Beachy) details:

• Address: 1 Bay Street, Byron Bay NSW 2481
• Website: beachhotel.com.au
• Opening Hours: Mon–Thu 11am–10pm; Fri–Sat 11am–1am; Sun 11am–10pm

4. Watsons Bay Boutique Hotel ($AUD110 million)

The Watsons Bay Boutique Hotel formed part of a $150 million deal in 2023, with the Laundy family taking full ownership after buying out long-time partner Fraser Short.

It was one of several venues included in the transaction, alongside Northies in Cronulla, Park House Mona Vale and a handful of coastal pubs up the NSW north coast, plus The Farm in Byron Bay.

Described as a recession-and-inflation-proof purchase, the Laundy family own roughly 90 venues, with plenty more still to be purchased (if not already underway).

More recently, the group doubled down on the purchase, putting $3 million into a renovation that’s transforming the upper levels into a dedicated events space, aimed at pulling in weddings, functions and longer bookings.

But as we’ve already pointed out, there’s more to these sales than meets the eye. Stuart Laundy was one of the many owners warning against plans for a cashless gaming card in NSW. So take that as you will regarding what makes a pub profitable these days.

Watsons Bay Boutique Hotel Details:

• Address: 1 Military Road (entry via 10 Marine Pde), Watsons Bay NSW 2030
• Website: watsonsbayhotel.com.au
• Opening Hours: Mon–Wed 11am–11pm; Thu–Sat 11am–12am; Sun 11am–10pm

5 and 6: El Cortez Hotel & Cabramatta Hotel (~$AUD200 million)

Property developer Sam Arnaout added both the El Cortez Hotel in Canley Heights and the Cabramatta Hotel to his portfolio in 2024, in a combined deal worth close to $200 million.

Together, the sites span roughly 17,000 square metres, making this more about owning real estate than just another pub.

But if you have the cash to splash, these classic large-format Western Sydney pubs are certainly the way to go. Big dining rooms, packed weekends, and the kind of consistency that keeps people coming back without much fuss. They work because they’re part of the local routine that prints money.

Which is why the deal wasn’t just for the El Cortez. Arnaout’s portfolio now includes the Steyne Hotel, which he purchased for $65 million (more on that later), and the Ivanhoe Hotel, both in Manly. 

With that much land attached, there’s always something else in play beyond what you see today.

El Cortez Hotel Details:

• Address: 337 Canley Vale Road, Canley Heights NSW 2166
• Website: elcortezhotel.com.au
• Opening Hours: Mon–Thu 10am–4am; Fri 10am–6am; Sat 9am–6am; Sun 10am–12am

Cabramatta Hotel Details:

• Address: 170 Cabramatta Road West, Cabramatta West NSW 2166
• Website: cabramattahotel.com.au
• Opening Hours: Mon–Thu 9am–4am; Fri–Sat 9am–6am; Sun 9am–12am

7. WestWaters Hotel & Entertainment Complex, Caroline Springs ($AUD85 million)

The WestWaters Hotel & Entertainment Complex in Caroline Springs sold for $85 million in 2023, marking the biggest pub deal ever recorded in Victoria.

Previously operated by the Hawthorn Football Club, the sale signalled the club’s move away from gaming revenue, with the venue forming a major part of its long-standing pokies business.

And you can see why. Running a football club is one thing. WestWaters is a full-scale operation spanning 7,000 sq m, with nearly 100 hotel rooms, conference and wedding spaces, a large bistro, sports bar, and a gaming floor packed with roughly 90 machines.

But thanks to the sale, Hawthorn is now closer to building its $100 million training base, dubbed the Kennedy Community Centre, at Dingley in Melbourne’s south-east.

WestWaters Hotel & Entertainment Complex Details:

• Address: 10-20 Lake Street, Caroline Springs VIC 3023
• Website: westwatershotel.com.au
• Opening Hours: 7 Days, 10am–4am (Breakfast from 6am/7am)

8. Strathfield Hotel ($AUD80 million)

Sam Arnaout makes another appearance on our list, this time with the acquisition of the Strathfield Hotel after more than 100 years of ownership by the Whelan family. The site spans around 2,000 square metres and comes with approval for a 60-unit residential development and 14 hotel rooms at the rear.

So while the pub is what they bought, the investment goes much further than another local establishment. Today, the business pulls in more than $10 million a year across its bar, bistro, gaming, and accommodation, with consistent earnings of more than $3 million.

Which is a long way from where it started. Built in 1918 by John Whelan, the hotel was financed after he took a gamble on a cargo of Scotch whisky thought lost at sea. Now it’s part of a $5 billion hospitality and development.

Strathfield Hotel Details:

• Address: 27 Everton Road, Strathfield NSW 2135
• Website: strathfieldhotel.com.au
• Opening Hours: Mon–Fri 9am–3am; Sat 9am–4am; Sun 10am–12am

9. Tea Gardens Hotel, Bondi Junction ($AUD75 million)

The Tea Gardens Hotel in Bondi Junction sold for $75 million in 2024, with Sydney publicans John and Sally Ryan adding the multi-level venue to their growing portfolio.

Set right next to Westfield Bondi Junction, the foot traffic is already guaranteed. But the real value is in the licence. The venue can start pouring from 7am and trade late into the night, giving it a longer runway than most pubs. And from Thursday to Saturday, they don’t close until 2am.

The Art Deco-style hotel sits on an 800-square-metre site, with a main bar downstairs, a balcony bar above, and a mix of indoor lounges and outdoor spaces overlooking Bronte Street. And of course, a VIP gaming room with 30 machines.

Tea Gardens Hotel joins an already impressive portfolio, sitting alongside Sydney venues like the Paragon Hotel, Ship Inn, and the historic Orient in The Rocks, and also operates in Melbourne and Brisbane.

Tea Gardens Hotel details

• Address: 2-4 Bronte Road, Bondi Junction NSW 2022
• Website: teagardenshotel.com.au
• Opening Hours: Mon–Sat 10am–12am (late license to 2am some nights); Sun 10am–10pm

10 – The Vineyard Sydney (~$AUD68 million)

The Vineyard Hotel in Sydney’s north-west sold for more than $60 million in 2021, ending more than 40 years of ownership by the Stanford family.

Set on roughly eight hectares, this is one of the largest pub sites on the list. It already includes 57 motel rooms, with approval for another 84 to be added over time.

And with 30,000 new homes planned nearby, it’s not hard to see where this is heading — that’s why it’s recently been transformed into a family-frieneldy venue with a huge kids’ playground out the back. Speaking from personal experience, it’s a lovely place to spent a sunny Sunday afternoon.

The Vineyard Hotel details

• Address: 725 Windsor Road, Vineyard NSW 2765
• Website: thevineyardsydney.com.au
• Opening Hours: Mon–Sat 10am–4am; Sun 10am–2am

11. Hotel Steyne, Manly (~$AUD65 million)

Manly’s Hotel Steyne sold for around $65 million in 2024, with Sam Arnaout adding the 160-year-old venue to his growing pub portfolio.

Sitting right on The Corso opposite Manly Beach, you’re unlikely to see this pub empty, even around closing time. Whether it’s crowds packed into the beer garden, socialising, dancing to Gimme! Gimme! Gimme! by ABBA, watching the Manly game, or tourists rolling off the ferry to see one of Sydney’s best beaches, this is a pub that caters to them all.

And although there have been a few updates over the years, like The Glasshouse upstairs, to the locals, it will forever be “The Drain”.

Hotel Steyne Details

• Address: 75 The Corso, Manly NSW 2095
• Website: hotelsteyne.com.au
• Opening Hours: Mon–Thu 7am–3am; Fri–Sat 7am–6am; Sun 7am–12am

Australia’s Most Expensive Pubs, by the Numbers (2026)

Rank	Venue	Location	Sale Price	Year of Sale	Buyer
1	Crossroads Hotel	Casula, NSW	$160 Million	2022	Nelson Meers Group
2	The Oaks	Neutral Bay, NSW	$140 Million	2026	Gallagher Hotels
3	Beach Hotel	Byron Bay, NSW	$140 Million	2025	Scott Didier
4	Watsons Bay Boutique Hotel	Watsons Bay, NSW	$110 Million*	2023	Laundy Family
5	El Cortez Hotel	Canley Heights, NSW	~$100 Million**	2024	Iris Capital
6	Cabramatta Hotel	Cabramatta, NSW	~$100 Million**	2024	Iris Capital
7	WestWaters Hotel	Caroline Springs, VIC	$85 Million	2023	Oscars Hotels
8	Strathfield Hotel	Strathfield, NSW	$80 Million	2022	Iris Capital
9	Tea Gardens Hotel	Bondi Junction, NSW	$75 Million	2024	Ryan Family
10	The Vineyard Hotel	Vineyard, NSW	$68 Million	2021	Private operator
11	Hotel Steyne	Manly, NSW	$65 Million	2019	Iris Capital

Scroll horizontally to view full table

Notes on these sales

The 2024-2026 Surge: While the Crossroads Hotel set the initial benchmark in 2022, the recent sales of The Oaks (2026) and The Beach Hotel (2025) demonstrate that the appetite for “generational assets” hasn’t cooled, even with higher interest rates.

Portfolio Buyouts (*): The Watsons Bay price reflects a buyout valuation within a larger $150M deal between the Laundy family and Fraser Short.

Strategic Clusters (**): The El Cortez and Cabramatta deals were finalized together at the end of 2024. These represent “high-volume” Western Sydney gaming venues, which command different valuation multiples than “lifestyle” venues like Manly or Byron Bay.

Development Plays: Sites like The Strathfield Hotel and The Vineyard were sold with significant land-use or residential development approvals already in place, inflating the price beyond just the “pints and pokies” revenue.

FAQs about pub sales in Australia