Business
Investors better off ‘owning pubs than overvalued stocks’ – The Australian Financial Review
The heritage-listed Lion Hotel and an adjacent office block have been acquired by the newly formed Duxton Pubs Group, headed by investment banker Ed Peter.
“The economy is going to be just awful over the next three to four years. But by buying carefully and buying the right assets, you can do OK out of that,” he said.
Mr Peter declined to say what Duxton paid for The Lion Hotel and the neighbouring office building, which had been listed in October last year with an expected price tag of $17 million.
The front bar at The Lion.
Industry sources indicated it sold for less than that. “It was a fair price for all parties concerned,” Mr Peter said.
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