The Quarryman's Hotel in Pyrmont has just changed hands as hotel scion Arthur Laundy has sold the property to industry stalwart Colin M. Parras, marking his re-entry into the pub market.  

HTL Property's Sam Handy and Dan Dragicevich negotiated the off-market transaction in conjunction with Mike Wheatley from Knight Frank Hotels. 

The Quarryman’s Hotel is prominently positioned on the corner of Pyrmont Bridge Road and Harris Street on a 291 sqm land parcel.

At a Glance:

• The pub was sold off-market before a large campaign to sell it at auction
• The hotel features a three-level trading footprint and extensive outdoor areas with skyline views
• Mr Parras recently sold the Peachtree Hotel in Penrith

The hotel features a three-level trading footprint and extensive outdoor areas, including a recent roof-top beer garden activation with CBD and skyline views. 

The suburb of Pyrmont enjoys the distinction of being Australia’s most densely populated suburb, with this reputation set to stay intact following approval for several large scale residential and commercial developments under NSW Planning’s Western Harbour precinct strategy.

Some of these surrounding developments include the Sydney Fish Market’s Masterplan, Star City's Ritz Carlton redevelopment, Grocon’s Ribbon Tower; and Mirvac's mooted Harbourside shopping centre redevelopment. 

Laundy purchased the hotel in 2011 for $3.5 million, and shortly afterwards executed a significant renovation and refurbishment of the hotel offering.

A second-floor bar and roof top beer garden were added some 18 months ago, which has resonated very well with the proximate advertising, marketing and local media industry. 

Speaking on behalf of the Laundy family interests, Patrick Maguire advised that the shareholders were planning on testing the market publicly; but were instead presented with a compelling offer prior to launching the proposed campaign shortly after the Australia Day weekend. 

“Our intention was to launch the Quarryman's Hotel to the market a few weeks ago, and we consequently had designed an Auction campaign around this strategy” said HTL Property Director, Sam Handy. 

“Nonetheless, it was not at all surprising to see Colin's willingness to acquire the hotel ahead of schedule; and he was very motivated and deliberate in his intent in doing so." 

Mr Parras sold his Peachtree Hotel in Penrith approximately 18 months ago via HTL Property to ASX listed developer BHL, and was considered to have been patiently sitting on the sidelines waiting for the right acquisition opportunity to arise. 

“I've been working closely with HTL Property over the last 12 months and have looked at plenty of acquisition opportunities with them” said Mr Parras. 

“Accordingly, I am absolutely delighted to have picked up the keys to the Quarryman’s Hotel." 

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