Central Coast News
Harvest Hotels acquires Central Coast icon, The Woy Woy Hotel
Built in 1897 and commonly referred to as "The Old Pub", The Woy Woy Hotel is the first acquisition to be made via Harvest Hotels' second fund, Harvest Pub Fund 2. It features a large public bar, separate drive through bottle shop, gaming facilities, beer garden, a restaurant, and is centrally located on 2,767m2 with views of Brisbane Water.
Operating iconic regional pubs, Harvest Hotels Director and Co-Founder Fraser Haughton said, "The Woy Woy Hotel strongly aligns with what we look for when acquiring a pub - it has good bones, a terrific reputation within its' community, is centrally located, provides a great mix of revenue and diverse offerings for its patrons.
"To date, the venues that we operate have all been in major rural regional centres, so when the opportunity to purchase this iconic coastal venue arose, we felt it was the perfect addition to our portfolio and the right pub to kick off Harvest Pub Fund 2."
With regional NSW continuing to experience population, economic and social growth, Harvest Hotels has great confidence in regional operations and the continuation of its accumulation strategy. The Woy Woy Hotel joins the company's portfolio of now six venues that are spread across major regional centres including Tamworth, Wagga Wagga, Dubbo and Albury.
Harvest Pub Fund 2, which plans to acquire another three venues, purchased the pub for $32 million, with Harvest Hotels set to take over from 6 December 2021.
"The Woy Woy Hotel has been owned by the McIntyre family for more than 20 years and they have been fundamental to its' success, so we certainly have big shoes to fill," said Fraser.
While maintaining the authentic atmosphere of The Old Pub, Harvest Hotels will look to expand on the pub's great foundation over the coming years with the intention of generating greater social and economic benefits for the region. The company plans to undertake some capital works to expand its offering and see the pub become a genuine meeting place for more locals and visitors alike.
"We look forward to becoming a part of the Woy Woy community and embracing the potential of The Old Pub as it becomes a Harvest Hotel," concluded Fraser.
To find out more about Harvest Hotels visit here
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