HTL Property Closes Out 2021 With Another Pub Sale

HTL Property today proudly announces the sale of the large format Central Coast freehold, The Coast Hotel (Budgewoi).

Overlooking the water, the popular Coast Hotel has been sold to well known restaurateur Bill Drakopoulos of Sydney Restaurant Group (SRG) for $15m following a keenly contested off market sale process.

“It’s refreshing to welcome a new entrant to the sector, and particularly one with such highly regarded hospitality pedigree in the form of Bill Drakopoulos and his sons Daniel and Perry” advised HTL Property National Director, Dan Dragicevich.

“The Coast Hotel occupies a large and predominantly underdeveloped 5,100sqm site, and enjoys the separate benefit of an exclusive catchment area” added HTL Property Director, Blake Edwards.

The Drakopoulos’, owners of The Sydney Restaurant Group (SRG), own and operate 15 sites in Sydney ranging from fine dining restaurants to cafes and function spaces, an accredited (WSET) wine academy and bespoke wine club and home catering.

Patriarch Bill Drakopoulos is a veteran of the hospitality industry with more than 40 years experience. Awarded “restaurateur of the year” in 2009, Bill sits on the board of Restaurant & Catering Australia and is also the chair representing NSW.

“Our core values have always been focused on offering the best service and products in locations and settings that are truly unique” advised Purchaser Bill Drakopoulos.

“Our venture into hotels is something we have been planning for quite sometime; and we very much look forward to creating amazing spaces and offerings, fitting of the surrounds, much like we have done with our existing restaurants Drakopoulos concluded.

The sale of The Coast Hotel by HTL Property closely follows the specialist firm’s record sale for the Central Coast of Woy Woy’s Bayview Hotel to the Laundy family for $35m; and consequently delivers the boutique agency a commanding 65% market share for all NSW pub sales in 2021.

“In often challenging circumstances, we’re delighted to have won engagement and delivered favourable outcomes on behalf of so many valued clients this past 12 months, and can for foresee positive trading conditions recommencing from the very outset of the New Year” concluded Dragicevich.

End.