Less than 24 hours after announcing it had purchased Norton’s Irish Pub in Sydney, Merivale has revealed it’s also acquired The Lorne Hotel in Victoria.
The historic pub that has stood proudly on The Great Ocean Road for more than a century. It recently reinvented itself as a food destination venue with the addition of ‘MoVida Lorne’ along with ‘Coda Lorne’, spin-offs of two of Melbourne’s most famous restaurants.
The hotel was sold by the Upham family as a freehold going concern for $38 million. The sale was brokered exclusively off-market by JLL Hotels & Hospitality’s John Musca and Will Connolly.
Merivale will receive keys to the venue later this year and will trade as normal over the summer.
Justin Hemmes, Merivale CEO, said: “The Lorne Hotel is an iconic venue in a truly spectacular location. It has been an absolute pleasure getting to know John and Paul Upham, who have been the proud custodians of the venue for the last eleven years; we feel honoured to continue their legacy and help usher the pub into the next phase of its incredible 145-year history”.
“The Upham family couldn’t think of better custodians of the Lorne Hotel than the Merivale Group,” said Paul Upham. “We leave knowing that the residents of Lorne and tourists that visit our beautiful town will have an amazing experience when visiting the venue. We wish them all the best.”
The Lorne Hotel acquisition closely follows the news that Merivale will join Melbourne’s hospitality industry with the purchase of Tomasetti House on Flinders Lane, with settlement on that acquisition to occur later in the year.
Yesterday, Merivale announced it had expanded its portfolio in Sydney’s Inner West with the acquisition of Norton’s Irish Pub in Leichhardt.
The Norton Street local joins Vic on the Park in Marrickville, Queens Hotel in Enmore and 3 Weeds in Rozelle as part of the Merivale group.
Merivale will receive the keys to the Leichhardt pub next month. The company said the venue will trade as normal, with future plans to be announced in due course.
Norton’s was last bought for an undisclosed sum in 2012 by Peter Gallagher, the owner of the P.J. Gallagher’s Irish Pub in the city. Ireland Before You Die ranks the Leichhardt institution as one of The 10 Irish Pubs in Sydney.
Later this year, Merivale will reopen the doors to the 3 Weeds Rozelle after an extensive refurbishment. Italian eatery Totti’s will make its Inner West debut in the iconic neighborhood pub. Merivale said details on the launch will be announced in the coming months.
“It is such a privilege to be part of Sydney’s vibrant Inner West; every suburb has a unique energy, and their local pubs play a special role in shaping their culture,” Hemmes said.
“We’re excited to not only expand our Inner West pub portfolio, but reopen doors to the 3 Weeds, a beautiful and much-loved local institution, this spring.”