Hotel Property Investments is embracing a strategy in line with its moniker, looking to a raft of opportunities in a virile market in a fight-back against the attempted takeover by Charter Hall and Hostplus. After an initial bid in September, the revised offer from the listed Charter Hall retail fund and superannuation player Hostplus effectively […]
SEQ Hospitality, headed by rich-lister Nick Politis, has put up a $77 million bid for listed publican landlord Eumundi Group, but one major shareholder and hospitality player is holding out. Eumundi began as a craft brewery named after its location, within the Sunshine Coast, and went on to list on the ASX in 1989 (ASX:EBG).
The strings are unravelling on the rise and fall of the skyrocketing Virtical Group, as the ATO unleashes the first of what could be many fines for improper tax claims. An audit, which is the first to emerge from what are thought to be ongoing Australian Tax Office (ATO) investigations, was obtained by the Australian
Receivers have taken control of the Republic Hotel in Sydney’s CBD only days after Virtical signed to sell the property to Chris Thomas for a major loss, and as the group is accused of not paying staff Super. Under the stewardship of Mark Toma and John Palesty, Virtical stormed the pub scene in 2023, prominently
The party is winding down for Jon Adgemis’ Public Hospitality Group (PHG), as a major lender calls in receivers and managers on five venues in the collection. Last week FTI Consulting’s Vaughan Strawbridge and Joseph Hansell stepped in, under security held by TREA ST Pty Ltd as trustee of the Public Group Security Trust. BDO’s
Listed real estate investment powerhouse Charter Hall and teamed again with Hostplus to attempt a takeover of the country’s last remaining listed pub landlord, Hotel Property Investments (HPI). Charter Hall Retail REIT (Real Estate Investment Trust) touts its interest in retail assets backed by long leases, counting shopping centres, convenience stores, childcare and petrol stations.
Endeavour Group has posted its full year results for FY24, detailing cost-cutting and portfolio hygiene in challenging economic times, yet seeing falling investor sentiment. ASX-listed Endeavour (ASX:EDV) is the holder of 350 pubs, retail outlets Dan Murphy’s and BWS, and assorted other hospitality-related assets. The report cited a dip in net profit, in line with
Aspiring hotelier Jon Adgemis has reportedly finally locked in the $400 million refinancing to save Public Hospitality Group, as lenders mandate management and a Masterchef joins the project. According to sources in finance, Deutsche Bank and other lenders have executed a refinancing deal on around two-dozen assets in the Public (PHG) portfolio. Deutsche was
Recent freehold sales in the Victorian capital signify the resurgence of activity in the market as sharp yields reflect both investor and industry interest. The freehold interest in the Cornerstone Hotel of Port Melbourne transacted in recent weeks at a confidence-inspiring yield of 4.50 per cent. Built 1860, the staunch two-storey Georgian brick pub reflects
MELBOURNE METRO FINDING ‘MARKET-DEFYING’ RESULTS Read More »
The big-ticket sale of Kinselas and the Courthouse Hotel by MA Financial to operator-developer Virtical has fallen over, with parties now arguing the specifics in court. Last September news broke that Moelis was divesting the pair of pubs at Taylor Square to the private company for just north of $60 million. The unlisted MA
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