PLOUGH & ALE:
The Laundy family has not only caught the greenfield itch, it has developed a new and efficient way to scratch. Clyde Mooney reports
Here we are, wrapping another massive year in the business of pubs. Sweeping away expectations of a slow post-pandemic recovery, the industry has been thriving and valuations booming, seen in yet another record year in real estate sale transactions.
The heady trajectory of valuations is in fact directly related to this edition’s lead story, on the evolved new pub development being undertaken by the Laundy group, in conjunction with old friends and award-winning builders, FDC Construction.
If there is one lesson that has become clear out of the coronavirus disruption, it is that decentralisation is the way forward. By that I mean more people working remotely, leading to more even distribution of some aspects of the economy, particularly hospitality. The suburban pub has truly benefitted, while CBD pubs have had to review their models.
This continuing economic spread across cities, and from cities to more growing regional areas, augers well with the continuing urban sprawl being seen in the capitals, particularly Sydney.
These up-and-coming population zones need infrastructure and social amenity, and as values soar and patronage stays local, there could be no better time to be building new public houses in amongst all the new homes.
While building in growing areas is nothing new, the collective experience specific to the Laundy-FDC partnership is bringing process evolution that could herald a new era for greenfield pubs. And while the scale of the Laundy group is pivotal to the industry, there are several other pub groups trailblazing into burgeoning precincts. Exciting times for the growth of the industry.
PubTIC would like to wish all our loyal readers (and even the disloyal ones) a happy Festivus and prosperous new year.
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