The sale of Kalgoorlie-Boulder’s famous The Exchange Hotel has been finalised with Perth businessmen Dave Allan and Lawson Douglas confirmed as the new owners.
Mr Allan and Mr Douglas understand the importance of the historic hotel, having spent considerable time in the city, and want to make locals proud of it again.
“We want to work with the locals to build an even better social hub for the town,” the pair said in a joint statement.
“We are not going to rush into any major changes, but we will upgrade some of the facilities to ensure the community have a great venue to socialise at and one they are proud of.”
The Exchange Hotel was bought in 2008 by millionaire investor David Harmon’s company, Trinity Flame, for $7 million.
The hotel was placed under administration in September 2011 after the Australian Tax Office and the Commonwealth Bank brought legal action against Mr Harmon’s company seeking an undisclosed sum.