The Oaks Hotel on Sydney’s Lower North Shore has sold for around $140 million, the equal-second-highest price ever paid for an Australian pub.
Family-owned hospitality group Gallagher Hotels is the new owner of the popular Neutral Bay venue, which was held for five decades by the Thomas family. The deal was brokered by JLL Hotels’ Ben McDonald and John Musca.
Gallagher Hotels purchased Jacksons on George in Sydney CBD for about $20 million in March 2025, the Railway Hotel in Fairfield for about $47.5 million in 2024 and The Longueville Hotel in Sydney’s Lane Cove for around $50 million in 2022.
Gallagher Hotels’ Patrick Gallagher told The Australian Financial Review: “Suffice it to say, obviously, we’re extremely excited. It’s one of those generational opportunities where it’s something we’d be hanging on to ourselves for well past [when] I’m dead.
“We can practically throw a blanket over all our pubs now, with the exception of the one out west.”
General Manager Andrew Thomas said: “It’s the right time for the family to move on and the Gallagher family are the right custodians to pass the baton to. The Oaks is one of a kind and has been an enormous part of our family history. We’ll leave with fond memories and many friends.
“It holds a very special place in the Australian hotel landscape and in the hearts of the community.”
The biggest pub sale on record was in 2022 for the Crossroads Hotel in Sydney’s Casula ($160 million), while the second biggest was Byron Bay’s Beach Hotel to businessman Scott Didier for about $140 million last year.
The Oaks was sold to a mystery buyer three years ago for around $170 million, but the sale fell through.
Categories: Property
