Clovelly

Sydney’s much-loved eastern suburbs watering hole The Clovelly Hotel has sold for a hefty $34 million, in the lead-up to the prime summer season. The deal comes days after another waterfront pub, the Beach Hotel …

This Clovelly property might not be much to look at, but it sold on one of the tightest yields of any commercial property in Australia this year.

It’s known fondly as “The Cloey”, and local patrons will watch with interest as the popular Sydney beachside watering hole begins the hunt for a new owner.