Property News: New Owners Purchase The Subiaco Hotel

Property News: New Owners Purchase The Subiaco Hotel

September 2019
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Property News: New Owners Purchase The Subiaco Hotel

West Australian hotel proprietors Dave Allan and Lawson Douglas have announced their purchase of the iconic Subiaco Hotel in Perth.

The purchase includes a 100 per cent freehold interest and the operating pub business, which has been run by Michael and Judy Monaghan for the past 50 years. The Subiaco Hotel will officially change hands in mid October.

The business partners own two historic landmark hotels in Western Australia, the Rose Hotel in Bunbury and the Exchange Hotel in Kalgoorlie, which they have meticulously restored to become vibrant, community venues in the local bar and restaurant precincts, employing more than 120 people.

“Like the Rose Hotel and the Exchange Hotel, the Subiaco Hotel is a much-loved local institution with a long, rich history and we are proud to become only the second owners of the property and continue the tradition of one of Perth’s favourite pubs,” Mr Allan said.

“It is a grand building with great charm and an important Perth landmark, dating from 1897. We don’t plan to make significant changes, other than enhancing what is there and ensuring our offering is in line with the market.”

The purchase of the Subiaco Hotel by the business partners is realisation of a longheld goal.

“Dave and I have shared some great times at the Subi in our younger days and we have had our eye on it for a long time,” Mr Douglas said. “It’s an ideal fit with our business model of refreshing iconic heritage hotels so they can again become vibrant, integral parts of their local communities.”

Mr Allan and Mr Douglas have been recognised for their refurbishments of the Rose Hotel and the Exchange Hotel, being awarded the 2017 AHA Redeveloped Venue of the Year for the Rose Hotel and runner-up in the 2019 WA Heritage Awards Conservation or Adaptive Reuse of a State Registered Place for the Exchange Hotel.

The business partners said they looked forward to working with the new wave of operators now establishing businesses in an evolving local entertainment zone which painted an exciting future and a renaissance for Subiaco.

The sale of the Subiaco Hotel prompted 120 enquiries and multiple bids for selling agents JLL directors Sean Flynn and Nicholas Agapitos, JLL National Director Hotels and Hospitality Specialist John Musca and Alex Gregg and Peter Trinh of Richard Noble.

“It’s been a huge response from across Australia and abroad and it’s fair to say that we spoke to the Who’s Who of publicans and developers,” JLL Director Sean Flynn said.

“We are particularly pleased that Dave and Lawson have such a strong affinity with historic pubs and a proven track record in food and beverage.”

“It is a great result for the pub, for Subiaco and for the loyal patrons who have met there for decades, as well as for the next generation of patrons.”

Subiaco Mayor Penny Taylor said the City of Subiaco was excited to welcome the new owners of the community’s beloved heritage-listed Subiaco Hotel.

“The iconic building has been part of our community for such a long time, and it’s great to see the experienced new owners are keen to be part of our thriving business community,” Mayor Taylor said. “This sale is another sign of business confidence in Subiaco.”

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