Jack Thompson calls last drinks at Katoomba
Actor Jack Thompson accepted that as investments go, his Hotel Gearin joint acquisition in in the Blue Mountains would cost him money, given the current state of the hotel market.
It was bought in 2006 for $4.1 million and sold today, June 23, 2011, for $1,925,000.
But Thompson said in the pre-auction marketing that the Gearin sale was far more an emotional than financial wrench for the actor, as its purchase was the realisation of a youthful dream.
His enduring acting career was among the reasons it was up for sale.
A syndicate led by Jack's son Patrick bought the historic Katoomba hotel in 2006.
There was a $1.9 million vendor bid at the auction through Jones Lang LaSalle Hotels agent Sam Handy. Bidding came from two interested parties.
The locals who know say the pub is turning over about $33,000 a week.
Located in the heart of the Blue Mountains, the hotel occupies a prominent corner site opposite Katoomba railway station and features a public bar, dining room, nine poker machines, 40 accommodation rooms and a 24-hour liquor licence.
