The Bachelorette star Stu Laundy buys Lennox Head’s iconic Lennox Hotel with Fraser Short
The Bachelorette winner and pub baron Stu Laundy has snapped up an iconic beachfront pub in the Byron region for around $40m.
Laundy partnered with pub operator Fraser Short to buy The Lennox Hotel in Lennox Head from brothers Greg and Clyde Campbell.
The two-storey hotel offers uninterrupted ocean views and includes a bistro, restaurant and bottle shop. Hollywood actors and Byron Bay locals Chris and Liam Hemsworth are among its regulars.
Mr Short, a local who owns The Farm Byron Bay and The Balcony Bar, said, The Lennox was too good of an opportunity to pass up on.
“The Lennox presented itself as an unmissable asset so we joined together with our long term partners the Laundy family to ensure we can deliver back to the community a gathering place that represents their lifestyle and one they can be proud of being associated with,” he said.
There has been a number of hospitality venues trade in the Byron region over the past 12 months headed up by $100m sale of the Byron Bay Beach Hotel to investment manager Moelis Australia.
The sale of this property comes as the local residential market has seen the median house price surge by 38 per cent in the past year to $1.885m due to a mass influx of cashed up Sydneysiders, according to realestate.com.au.
HTL Property Asia Pacific director Andrew Jolliffe, who was unable to elaborate about the terms of the sale, said the buyers realised assets such as The Lennox were fundamentally inimitable and valuable.
“Stu and Fraser understand the infrequency of rare opportunity; and when presented by the chance to own a generational asset such as this one, mobilised with blinding efficiency,” he said.
The Lennox Hotel is one of the few truly beachfront hotel properties in NSW along with Manly’s Steyne Hotel, Byron’s Beach Hotel, Bondi’s Bondi Hotel, Cronulla’s Northies and the Coogee Pavilion.