The Oaks sells for $140 million

The Oaks Hotel in Neutral Bay has sold for around $140 million, according to a report in the Australian Financial Review.

The longstanding watering hole on Military Road was built in the late 1800s, and is home to the John Meillon Bar, named after the famous Australian actor.

The pub was last sold in 1990 to David Thomas for $12 million. Thomas ran the pub for over 50 years. The new owner is Gallagher Hotels, which also owns and operates the Hunters Hill Hotel and Jacksons on George in the CBD.

Image credit: Sardaka via Wikimedia