MQ & Associates has announced the acquisition of the Blue Mountain Hotel in Lawson, New South Wales, by K2 Property Development Group (K2).
Arguably the most iconic pub on the Great Western Highway in the Blue Mountains, the Blue Mountain Hotel, Lawson offers aesthetics and function with a well-diversified trade across all departments.
Situated on a high-profile corner block just one hour west of Sydney, the commanding two-storey period-style building is passed by more than 22,000 vehicles each day.
MQ & Associates’ Leonard Bongiovanni sold the venue to vendors Paul and Angela O’Brien in 2019 and has been impressed by their rejuvenation of the much-loved local.
“Paul and Angela have done a fantastic job refreshing the hotel and growing turnover and revenue,” Bongiovanni said.
“These improvements and the redevelopment of Lawson’s retail precinct provide plenty of scope for further expansion. We look forward to watching K2 take the Blue Mountain Hotel, Lawson to even greater heights.”
The acquisition by K2 is their first step into the hospitality industry, expanding on their existing commercial portfolio and current development sites including 1A Hill Street Dulwich Hill, One Point Piper and Bondi.
“We are excited to bring the Blue Mountain Hotel, Lawson into the K2 portfolio and work with the wonderful Lawson community. This fine establishment will continue to provide the surrounding area with the excellent service for which it is already known,” Michael Koundouris, Managing Director at K2, said.
K2 will be partnering with seasoned operators Locky Paech and Jono Spragg from Sydney-based Goodtime Hospitality Group, which specialises in high-quality food and beverage operations and hospitality consulting. Established in 2014, Goodtime’s flagship venue is the dynamic East Village Sydney in Darlinghurst.
“Our ethos is to build and operate well designed, innovative hospitality venues. As a ‘meeting place’, they form the focal point of local communities,” Locky Paech, CEO at Goodtime Hospitality Group, said.
“We will focus on implementing our style of food and beverage into the venue as the first point of call to complement an already solid mix of revenue streams.”
