Pub investor Andrew Stratis has sold the landmark Tumbulgum Tavern in northern New South Wales for about $7 million, ending more than a decade of ownership as he heads into retirement.
Known affectionately as the “Tumby” by locals, the waterfront tavern at 126–134 Riverside Drive has been a community fixture just 20 minutes from Gold Coast Airport and 45 minutes from Byron Bay.
Stratis purchased the 950-square-metre venue, set on a 2864-square-metre block, back in 2014. After steering it through years of steady trade, he has now opted to sell to focus on retirement.
The buyer is the fast-growing Epochal Hotels, led by Glenn Piper and his co-investor William Nicholson, who continue to build a portfolio that already includes the Harbord Hotel in Freshwater and the Beach Hotel in Merewether. Epochal will also reopen the Commodore Hotel in McMahons Point next month.
The sale of the Tumby was managed by Ryan Langham and Nathan Huxham of Ray White Commercial Burleigh.
Source: Sydney Morning Herald
