David Tomsic’s Black Rhino Group has gone again in Adelaide, picking up a vacant pub on O’Connell Street with plans for an overhaul and new eponymous moniker.
The latest acquisition is amongst the bustling North Adelaide Village Shopping Centre, offering a 50-year lease on a vacant premise, with 32 gaming entitlements.
Exchanging contracts this week, Tomsic has already registered the name Black Rhino Hotel for the site. He’s not happy with the current floorplan and it planning to gut it for a full renovation.
North Adelaide’s O’Connell Street boasts over 200 shops, a cinema complex and an extensive range of dining choices, around the shopping centre, which is anchored by a Foodland supermarket.
The retail strip is proximate to beautiful and historic Adelaide residences and chic office space, just two kilometres north of the Adelaide Oval development, and three from the CBD.
“I’m very excited about this position, with nearly 55 thousand people in a five-kilometre radius,” notes Tomsic.
The Melbourne-based pub group has begun investing heavily in undercapitalised pubs in South Australia, acquiring the Newmarket Hotel in late April, the Portside Tavern in late May, and last month the George Hotel in Millicent.
“This one’s going to be another ripper,” enthuses Tomsic. “I wasn’t going to touch leases, but here I’ll make an exception!”
Sale of the leasehold was brokered through CBRE Hotels’ Matthew George.
