Boyuan Sells Penrith Pub for $16.5m

The listed Boyuan Holdings has sold the Peachtree Hotel in Penrith to Marlow Hotels Group for $16.5 million.

Boyuan originally purchased the 1-hectare Peachtree Hotel late last year for $15.5 million and has put the sale down to "a strategic review of the business".

"The Board has resolved to capitalise on current market conditions and proceed with the sale of the Peachtree from our current portfolio of assets," BHL's chief executive Caden Wan said.

"The divestment will allow BHL to focus on our property assets and the fast-growing lifestyle living portfolio, to maximise returns for our shareholders."

The Peachtree Hotel's new owner Jason Marlow is an experienced hotelier managing other venues such as The Rose and Crown in Parramatta and the Boathouse Tavern in Queensland's Coomera.

Related reading: Another Sydney Hotel Sale Signals Strong Pub Market

This recent sale comes off the back of The Banksia Hotel selling for $26 million in Sydney's south earlier this year.

Down at Sydney's infamous Bondi Beach, John Singleton's Icebergs Dining Room and Bar leasehold has been secured by the O'Brien Group for $15 million.

Boyuan Holdings, along with Scentre Group and Western Sydney University last week announced a 344-hectare masterplanned health, retail and logistics development in Badgerys Creek.

The project is part of the "Northern Gateway" development, an ambitious plan to shape the land around Sydney's forthcoming second airport.