Laundromat empire snaps up new headquarters in Lane Cove for $33 million
Pub veteran Arthur Laundy has set up the new headquarters on Sydney’s north shore after buying the former Aristocrat building for $33 million to feed his growing empire.
Business expansion underpinned the move after Laundy Hotels took over operations from the Sydney Collective partnership it had with fellow innkeeper Fraser Short.
These included taking the reins of Watsons Bay Boutique Hotel, Park House Mona Vale, Northies at Cronulla, Lennox Head Hotel, Illawong Hotel and Farm at Byron Bay, valued at up to $300 million.
Laundy will relocate employees to one of the floors at 71 Longueville Road, Lane Cove for its new headquarters, which is a modern office building in the heart of Lane Cove’s bustling business district.
Nick Tindall of Laundy Hotel Group said the group was “very excited” to take the reins of a building that sits at a gateway to one of Sydney’s most desirable suburbs.
“The location and convenience of our new headquarters will help us attract the best and brightest candidates to our business,” said Tindall.
The seller was Property Bank Australia, which bought the property as part of 17 office buildings in the Melbourne and Sydney office markets after the global financial crisis.
Knight Frank director Tyler Talbot and Chris Hartigan of Hartigan Bolt advised on the sale.
https://www.smh.com.au/business/companies/laundy-pub-empire-snaps-up-new-hq-in-lane-cove-for-33m-20230317-p5csz7.html?ref=rss&utm_medium=rss&utm_source=rss_business Laundromat empire snaps up new headquarters in Lane Cove for $33 million