One of regional New South Wales’ most well-loved pubs has achieved a record sale result, underlining the continued strength of NSW’s central west market.   

Orange’s historic Canobolas Hotel will change hands late this month after nearly two decades of ownership by partners Arthur Laundy, Mark Dalton and Philip Tudor.

Purchased by the Sukkar family, owners of construction giant Buildcorp, in partnership with Point Group Hospitality, the sale of the legendary hotel completes a trifecta of standout sales for the town. Nearby venues, the Royal and Robin Hood Hotels, each sold for circa $20 million earlier in 2021.    

Selling agent Leonard Bongiovanni from Manenti Quinlan & Associates negotiated the outstanding result via a targeted off-market campaign.   

“To achieve a record sale price following such strong recent results highlights the incredible strength of the market. The ‘Nob’, as it’s fondly known by locals, is an iconic Art Deco pub in the heart of town. Constructed in 1939, it has an impressive street presence and loads of character – but there’s still plenty of potential for the new owners to take it to the next level,” said Bongiovanni.

“Orange has excellent appeal as one of the towns leading Australia’s regional revival. The population has exploded to overtake Bathurst and Dubbo, and the number of annual visitors to the region grew from 1.1 million in 2017 to more than 1.8 million in 2020. It’s a fantastic place to invest,” said Bongiovanni.   

Buildcorp’s Mark Tonkin confirmed it would be business-as-usual at the pub initially while the buyers looked at ways to give the venue a new lease of life.

“Our vision is to give the Hotel Canobolas a thoughtful facelift that celebrates its original heritage features and identity,” said Tonkin, a long-time visitor to Orange. “We plan to begin with the ground floor bar and bistro before renovating the ballroom, upstairs bars and function spaces, then moving onto the accommodation.”

The new owners will keep the hotel’s current staff, with an existing staff member becoming the licensee and general manager.

“The staff are number one,” said Tonkin. “We want to be an active participant in the local business community, become part of the fabric of Orange, and contribute to the prosperity of the town and wider central west region.”

Philip Tudor, part-owner of the Hotel Canobolas with Mark Dalton and renowned hotelier Arthur Laundy since 2003, said the decision to sell was not one that their families made lightly.

“We feel very privileged to have owned such an iconic hotel and are excited about the opportunities the sale presents for our staff and the Orange community,” said Tudor.

“We welcome the Sukkar family to Orange and look forward to remaining involved with the local community through our other businesses.”  

To request a sales analysis please contact the selling agent Leonard Bongiovanni from Manenti Quinlan & Associates via the below contact details.

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