Saying: “Regionally focused hospitality fund manager Harvest Hotels has bought the Woy Woy Hotel on the NSW Central Coast for $32 million from the McIntyre family as the first asset for its second pub fund.

Harvest Hotels, led by Sydney-based publicans Chris Cornforth and Fraser Haughton, is seeking to raise $19 million to fund the acquisition and $5 million of upgrades to the 1897-built venue known by locals as “The Old Pub”.

The Woy Woy Hotel is Harvest’s first coastal acquisition and the first for its Harvest Pub Fund 2. It features a large public bar, separate drive through bottle shop, gaming facilities, beer garden and a restaurant.

Harvest wants to raise $48 million in total for its second pub fund, which will acquire a further three pubs.  Open to wholesale investors only, the minimum investment is $10,000 through affiliated investment manager iPartners. A 9 per cent distribution will be paid to investors.

Read the full article here:  Australian Financial Review