Sydney’s Feros family has sold popular pub The Peakhurst to Sonnel Hospitality for around $60 million, pushing hospitality transactions this year to nearly $900 million — triple last year’s total for the same period.
JDA Collective’s John Feros said being from the St George, Hurstville area and owning The Peakhurst made it “hard to leave,” but they were “really happy that Sonnel has taken it on.”
Sonnel Hospitality’s chief operating officer Tim Fitzgerald said, “Peakhurst Hotel is exactly the type of all-occasion venue we look for when considering opportunities to grow the Sonnel portfolio.”
“What excites us most is the opportunity to build on that foundation and continue evolving the venue in a way that reflects what local guests want from their local pub,” Fitzgerald added.
The Feros family first bought the pub a decade ago for $22.5 million and rebuilt the establishment in 2020. The venue includes a sports bar, kids play area, 11 hotel rooms and 30 gaming machines.
The divestment follows the Feros family’s purchase of the Bexley North Hotel in Sydney’s south for about $70 million in May.
Siblings John and Dean Feros and Alexandra Henderson (formerly Feros) head JDA Collective, which has expanded on the pub portfolio started by their uncle Nick Feros and father Theodore Feros in 1971.
Today, the group operates venues across NSW, Victoria and Queensland, and is distinct from Feros Group, run by Nick’s side of the family.
Source: Australian Financial Review
